Yes. A previous foreclosure does not permanently prevent you from buying another home.

Every major mortgage program has waiting periods following a foreclosure, but the length of that waiting period depends on several factors, including:

• The loan program you’re applying for (Conventional, FHA, VA, or USDA)
• When the foreclosure was legally completed
• Whether extenuating circumstances apply
• How you’ve managed your credit since the foreclosure
• Your current income, assets, and overall financial profile

One important detail many borrowers don’t realize is that the foreclosure date shown on your credit report isn’t always the date lenders use. In many cases, we must verify the date the property was legally transferred out of your name because that’s often the date used to determine eligibility.

The good news is that many homeowners qualify again much sooner than they expect. If you’ve experienced a foreclosure, we’ll review the dates, determine which loan programs you’re eligible for today, and, if necessary, create a plan to help you qualify as soon as possible.

A foreclosure is part of your financial history—not the end of your homeownership story.