Buying a Home After Foreclosure

The first thing a returning buyer needs to determine is the date of the foreclosure. This can be a bit confusing. The foreclosure process includes a notice of default, a notice of trustee sale, the actual trustee sale, and the move-out notice.


The foreclosure “clock” – the minimum wait time before making a new home purchase – begins counting from the date of the trustee sale for most loan programs. From there, we can evaluate how long the returning buyer must wait before obtaining financing.


[Read Our Guide About Minimum Credit Guidelines for Loan Qualification]

General Waiting Periods

Here are general guidelines for how long a borrower must wait to obtain financing after a foreclosure:


FHA Back-to-Work Program
12 months

3 years (from sale date)

3 years (from sale date)

3 years (from recorded date)

3 years (as low as 3 years with extenuating circumstances)
7 years (without extenuating circumstances)


NOTE: The Warranty Deed is the instrument that transfers the title after foreclosure proceeding.  The Warranty Deed has a sale date listed, which is the date that is generally used. The USDA loan uses the date that the Warranty Deed is actually recorded.

Step 1. Get Pre-Approved.

How Does Pre-Approval Work?

Getting pre-approved is as easy as 1-2-3!

1. Create an Account

Creating an account is fast, easy, secure and FREE! Your account enables you to easily modify your loan application and view the status of your loan anytime day or night.

2. Submit Information

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely.

3. Get Pre-Approved

Kick your feet up while we crunch the numbers. Pre-approval can be done very quickly if you provide a complete and accurate loan application and supporting documentation.

You have questions? We have answers.
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