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Kentucky Mortgage Loan Approval for USDA, FHA, VA, and Fannie Mae with a previous short sale or foreclosure. How long do you have to wait?

 Obtaining new financing after a Short Sale or Foreclosure for a Kentucky USDA, FHA, VA, and Fannie Mae Loan?



  Kentucky Mortgage Short Sale:
Conventional Loans Require:

Minimum 2 years with restrictions up to 7 years
2 to 4 years - 80% maximum LTV
4 to 7 years - 90% maximum LTV
7 years and after allow for maximum standard financing

Kentucky FHA and Kentucky VA Loans Require:

3 years, with exceptions possible for less time if borrower's credit and mortgage payments were in good standing prior and up to date of Short Sale

  Kentucky Mortgage Foreclosure:
Conventional Loans Require:

7 years, with exceptions considered between 3 to 7 years if significant extenuating circumstances exist

Kentucky FHA and Kentucky VA Loans Require:

FHA: 3 years, with exceptions possible for less time if significant extenuating circumstances exist
VA: 3 years, with exceptions possible for less time if significant extenuating circumstances exist


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