2015 Kentucky Home Buyers Mortgage Guide After Foreclosures and Short Sales For FHA, VA, Fannie Mae, USDA, RHS

2015 Kentucky  mortgage waiting period for foreclosures and short sales for specific situations

Kentucky Conventional Loans

• Foreclosures: 7 years from the foreclosure completion date (some applicants may qualify for a conventional loan only 3 years after with extenuating conditions including wage earner death, illness or job loss)
• Short Sale/Deed in Lieu-Short Sale:
  • 7 year with less than 10% down of primary residence
  • 4 years with 10% down on the purchase of a primary residence
  • 4 years with 20% down on the purchase of a primary, secondary or investment property purchase
  • 2 years with extenuating circumstances, only with 20% down

Kentucky FHA Loans

• Foreclosures: 3 years from the foreclosure completion date and transferred back to the lender to the credit report date
• Short Sale: 3 years from the title transfer date

Kentucky VA Loans

• Foreclosure: 2 years from foreclosure completion date and date transferred back to the lender
• Short Sale: 2 years from previous sale closed date…