Mortgage programs have different requirements for borrowers with a past bankruptcy or housing-related credit event. Lenders may consider the type of bankruptcy, whether it was discharged or dismissed, the date the event was completed, and whether circumstances beyond your control contributed to the situation.

The old Mortgage Mark guide describes the following general conventional-loan waiting periods:

• Chapter 7 bankruptcy: Generally, four years from discharge or dismissal, with certain documented exceptions.
• Chapter 13 bankruptcy: Generally, two years from discharge or four years from dismissal, subject to applicable exceptions.
• Foreclosure: Generally, seven years, with limited exceptions under the guideline described in the source.
• Short sale or deed-in-lieu: Generally, four years, with certain documented exceptions.

These are reference points from the old guide, not a determination of current eligibility. Requirements can change and differ by loan program and individual circumstances.

FHA and VA loans have their own requirements for borrowers with past bankruptcies, foreclosures, or short sales. In some circumstances, a shorter waiting period may apply, but additional conditions or documentation may be required.

Review the relevant loan program and have a mortgage professional assess your circumstances before relying on a specific waiting period.

Explore our FHA Loans and VA Loans resources for more information.

If you’ve experienced bankruptcy or foreclosure, gather your discharge or dismissal paperwork and records related to the property. Be prepared to explain the circumstances and demonstrate your current financial situation.

Your credit history, payment behavior since the event, income, assets, and other loan requirements may all affect eligibility.

For general credit guidance, visit Credit Basics.

Waiting periods are only one part of qualifying for a mortgage. The best next step is to review your situation against the current requirements for the loan programs you may qualify for.