The "clock" for your waiting period typically starts from the date of your (not filing) or the completion date of your foreclosure. By Loan Type Loan Program Chapter 7 Bankruptcy Chapter 13 Bankruptcy Foreclosure FHA 1 Year (payout) VA 1 Year (payout) USDA 1 Year (payout) Conventional 2 Years (discharge)

If your foreclosure was included in a bankruptcy, some lenders (particularly for conventional loans) may allow the shorter bankruptcy waiting period to apply instead of the 7-year foreclosure wait. 🛠️ Phase 1: Rebuilding Your Credit

Evidence of (typically 3–6 months of mortgage payments). ✅ Strategic Recommendations Can you buy a house after bankruptcy? | Rocket Mortgage

Pull your free credit reports from AnnualCreditReport.com. Ensure discharged debts are marked "closed" or "zero balance." Even small errors can suppress your score.

Keep balances below 10%–30% of your limit. Higher utilization suggests financial strain.

These are the fastest way to rebuild. You provide a cash deposit that becomes your limit. Lenders look for 12–24 months of perfect, on-time payments.

When you are ready to apply, you will need to provide "compensating factors" to reassure the underwriter. The "Letter of Explanation"