Kentucky FHA Mortgage Lender

Kentucky FHA Loan Guidelines After Bankruptcy, Foreclosure, or Short Sale

If you’ve experienced a bankruptcy, foreclosure, or short sale in the past, you may still be able to qualify for a Kentucky FHA loan. Here are the current waiting period guidelines you need to know:

• Foreclosure: 3-year waiting period from the foreclosure completion date (when the property is transferred back to the lender) as reported on your credit report.
• Short Sale: 3-year waiting period from the title transfer date.
• Chapter 7 Bankruptcy: 2-year waiting period from the discharge date. Note: If a property was surrendered in the Chapter 7 bankruptcy, it may be treated as a foreclosure, which could extend the waiting period.
• Chapter 13 Bankruptcy: 1-year wait with a scheduled payment plan, provided the liabilities are factored into your debt-to-income ratio and bankruptcy court approval is obtained — OR 2 years from the discharge date.

Don’t let past financial hardships stop you from achieving the dream of homeownership. I’ve helped hundreds of Kentucky families in similar situations successfully get approved for FHA loans. Reach out today — let’s talk about your options.

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