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).
What this actually means.
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.
Where this can move.
Recent late payments, thin credit history, disputed accounts, lender overlays, and AUS findings can change the answer.
Ask the question. Get the straight answer.
Send the scenario and I'll tell you what I'm seeing. No application fee. No long form just to get a basic 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. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.