Having previous credit issues doesn’t mean you will never qualify for a mortgage. Below we have a list of the most common delinquencies and the waiting time frames for each.

Finance guidelines*
Waiting periods for previous Foreclosure, Short Sale, and Bankruptcy
Event Conventional FHA VA
Foreclosures 7 Years from completion of foreclosure. 3 years from completion of foreclosure. 2 years from foreclosure date.
Short Sale 4 Years from completion date. 3 years from completion date. 2 years from short sale date.
Chapter 7 Bankruptcy 4 years from discharge/Dismissal. 2 years from discharge with AUS approval. 2 years from discharge date.
Chapter 13 Bankruptcy 2 years from discharge 4 from dismissal. 1 year of the payment period must have elapsed with satisfactory payment performance and permission from the court. 1 day from completion of payment plan if all payments were satisfactory and permission from the court.

*These guidelines are subject to change without notice.