Asked by brian  |  Submitted February 07, 2017

How long do you have to wait after a foreclosure before you can secure another mortgage?

I had a foreclosure 3 years ago on an FHA loan for some rental property I owned. It wasn't our primary residence.

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  Answers  |  1

February 27, 2017

The answer is it depends on the down payment. If you can come up with 20% to 30% down, you might be able to buy right away with a higher rate interest mortgage. If you'd like another FHA loan, you'll have to wait 3 years.

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