Can I get a conventional loan after foreclosure?
Yes, after a 7-year wait from the foreclosure sale date for standard conventional, or 3 years with documented extenuating circumstances and 90% max LTV. Short sale and deed-in-lieu have shorter waits (typically 4 years).
Plain-English explanation
Foreclosure seasoning on conventional: 7 years standard, 3 years with extenuating circumstances and a 90% LTV cap plus a primary-residence purchase. Short sale and deed-in-lieu: 4 years standard, 2 years with extenuating circumstances. Re-established credit and stable income are scrutinized on top of the calendar. FHA's 3-year standard wait and VA's 2-year are both shorter than conventional. Subject to Fannie/Freddie guidelines.
What can change the answer?
Recent late payments, thin credit history, disputed accounts, lender overlays, and AUS findings can change the answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Credit
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.