August 15th, 2014 7:44 PM by Robin Bain
Waiting Periods for Major Derog Types
Bankruptcy (Chapter 7)
FNMA Conforming and Hi Balance
4 years
FHLMC Conforming and Super Conforming
Non-Agency Jumbo Edge up to $2m
5 years
Non-Agency Jumbo Classic up to $2m
Not eligible
FHA < $625,500
2 years
VA < $700,000
Foreclosure
7 years
3 years
Pre-Foreclosure / Short Sale
4 years * - DU approved
4 years** - LP approved
Non-Agency Jumbo Edge
Non-Agency Jumbo Classic
FHA <$625,500
2 years (if current on mortgage and all installment loans at time of short sale); 3 years