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Web23 sep. 2024 · To qualify for a traditional mortgage, which may give you the best rate, you must meet the following requirements: have been discharged from bankruptcy for at least;two years and one day have at least;one year;of re-established credit showing on;two;credit items usually with a minimum combined credit amount of between $2,500 … Web10 feb. 2024 · Three years from the recorded date of foreclosure or date of sheriff’s sale. Short Sale –. The waiting period to qualify for FHA loan after a short sale is three years from the short sale date, which is reflected on the HUD-1 Settlement Statement. Bankruptcy (Chapter 7) –. Two years from the Chapter 7 Bankruptcy discharge of Chapter 7. Web23 nov. 2024 · One option is to increase the amount of your down payment. If you put down a large sum of your own money, you are less likely to walk away from the loan when times get tough. Taking on your own share of risk will get a lender’s attention — and it could … clearance red sox shirts