FHA After Foreclosure

FHA after foreclosure



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FHA after bankruptcy   FHA after foreclosure   FHA after short sale


FHA after foreclosure A borrower whose previous residence or other real property was foreclosed on or has given a deed-in-lieu of foreclosure within the previous three years is generally not eligible.

Foreclosure must have been resolved for at least 3 years with no late payments since the date of resolution. 

Seasoning requirements

  • Government loan: Seasoning is determined by the date the claim was paid
  • Loans other than Government: Seasoning is determined by the date of sale the lender sold the property

The FHA Resource Center


FHA after foreclosure Extenuating circumstances

New FHA loan requirements borrowers may also be eligible for an FHA insured loan on a purchase transaction after 12 months from the completion, discharge, trustee's sale if the borrower meets the requirements for extenuating circumstances Economic Event.

Borrowers with a prior bankruptcy, foreclosure, deed-in-lieu, or short sale may be eligible for an FHA insured loan if the bankruptcy, foreclosure, deed-in-lieu, short sale was the result of a documented extenuating circumstance.


Credit score

January 20, 2010 - New FHA announced a policy change to address risk and strengthen finances. FHA has changed the minimum credit score for new borrowers:

  • FHA requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment
  • FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%
  • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well

Refinance - Need to lower your monthly payment today for a better tomorrow. Start your refinance online now!

  • FHA rate and term up to 97.75% loan-to-value
  • FHA cash out up to 80% loan-to-value
  • Minimum 500 credit score


Debt-to-income ratio - April 1, 2013 FHA requirements include a maximum debt to income ratio. When a borrower applies for an FHA mortgage, they are required to disclose all debts, open lines of credit, and all possible approved sources of regular income. Using this data, the lender and FHA can calculate the borrower's debt-to-income ratio.

  • FHA maximum debt to income ratio can be over 55%
  • Manual underwriting maximum debt to income ratio is 40/50%

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