Waiting Period for Conventional Loans

Have a past bankruptcy or foreclosure and worried you won't qualify for a conventional home loan?

Many homebuyers believe bankruptcy or foreclosure disqualifies them from conventional financing, but understanding the waiting periods can help you plan ahead effectively.

Navigating conventional loan guidelines after financial setbacks like bankruptcy or foreclosure is challenging. Many lenders reject applications due to strict waiting periods and underwriting criteria, leaving potential homebuyers frustrated and uncertain about their future.

In this video, Alex Carlucci from Gustan Cho Associates clearly explains the conventional loan waiting periods:

Chapter 13 Bankruptcy: 2-year waiting period after discharge or dismissal (strong credit required)

Chapter 7 Bankruptcy: 4-year waiting period (no exceptions)

Foreclosures: 7-year waiting period from when the property title changes hands

Understanding these waiting periods gives you clarity, helps you rebuild your credit strategically, and increases your chances of approval when the time comes.

Need expert guidance on your mortgage options? We're licensed in 48 states and ready to assist.

📞 Call Alex today: 630-915-7550

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