Getting a Mortgage After Bankruptcy or Foreclosure in Florida: Waiting Periods by Loan Type

Short answer

After a Chapter 7 bankruptcy, the usual wait is 2 years for FHA and VA loans and 4 years for a conventional loan; after a foreclosure it is 3 years for FHA, 2 years for VA and 7 years for conventional, as of November 2026. A short sale or deed-in-lieu usually means a shorter wait than a foreclosure, and documented extenuating circumstances can cut most waits further. Non-QM lenders set their own rules and can sometimes help sooner.

Conventional loans (Fannie Mae B3-5.3-07)

Fannie Mae's Selling Guide, section B3-5.3-07, sets these waiting periods, as of November 2026:

• Chapter 7 or 11 bankruptcy: 4 years from discharge or dismissal. 2 years with extenuating circumstances.
• Chapter 13 bankruptcy: 2 years from discharge, or 4 years from dismissal. With extenuating circumstances, 2 years from dismissal. There is no shorter exception after a discharge.
• More than one bankruptcy in the past 7 years: 5 years from the most recent discharge or dismissal, or 3 years with extenuating circumstances for the most recent filing.
• Foreclosure: 7 years from the completion date. 3 years with extenuating circumstances, but from year 3 to year 7 the loan is limited to buying a primary home (max 90% loan-to-value) or a limited cash-out refinance.
• Short sale, deed-in-lieu or mortgage charge-off: 4 years from the completion date, or 2 years with extenuating circumstances.

The clock starts on the discharge, dismissal or completion date. On a manually underwritten loan, Fannie measures it to the date the new loan funds, not the date you apply. See conventional loans.

FHA loans (HUD 4000.1)

FHA is usually the fastest government path back. We could not load hud.gov this month, so these figures come from a lender's FHA summary of HUD Handbook 4000.1 and FHA.com. Confirm them with your loan officer.

• Chapter 7: 2 years from discharge. Between 12 and 24 months may be allowed with documented extenuating circumstances and re-established credit. Under 12 months is not eligible.
• Chapter 13: you do not have to wait for discharge. HUD 4000.1 allows an FHA loan once at least 12 months of the payout plan have passed, every plan payment was on time, and the bankruptcy court gives written permission.
• Foreclosure or deed-in-lieu: 3 years from the date title transferred.
• Short sale: 3 years. The wait can be waived if you were current, with every mortgage and installment payment made within the month due, for the 12 months before the sale.

FHA measures to the date the lender gets an FHA case number. A file inside the standard wait is downgraded to manual underwriting. More in FHA loan requirements in Florida.

VA and USDA loans

VA loans, per lender summaries of VA rules as of November 2026:

• Chapter 7: 2 years from discharge. Between 1 and 2 years may be considered with documented extenuating circumstances and re-established credit.
• Chapter 13: at least 12 months of on-time plan payments plus written permission from the court. A completed plan paid as agreed counts as re-established credit.
• Foreclosure or deed-in-lieu: generally 2 years from completion. If it was part of a bankruptcy, the 2 years run from the later of discharge or the title transfer.
• Short sale: VA sets no fixed wait if the rest of your credit is good, though lenders may add their own rules. If VA backed the lost loan, ask about restoring your VA entitlement. See VA loans in Florida.

USDA loans: 3 years after a foreclosure or deed-in-lieu, and generally 3 years after a Chapter 7. During Chapter 13 you may apply after 12 months of on-time payments with court permission. USDA only lends in eligible rural areas; see USDA loans in Florida.

Non-QM loans: when you cannot wait

A non-QM loan is not bound by Fannie, FHA, VA or USDA rules. Each lender sets its own seasoning after a bankruptcy or foreclosure, and some will look at a borrower well before the agency waits end.

The trade-off is cost. Expect a larger down payment, more reserves and higher pricing than an agency loan. Rates vary daily; call for today's pricing.

For self-employed buyers, a bank statement loan is often the same lender family, so one review can cover both the credit event and the income. A common plan is to buy now with non-QM, then refinance into a conventional or FHA loan once the full wait has passed, subject to credit approval at that time.

Extenuating circumstances: what counts

Fannie Mae (B3-5.3-08) defines extenuating circumstances as nonrecurring events beyond your control that caused a sudden, significant and prolonged drop in income or a catastrophic rise in bills. HUD uses a similar test; serious illness or the death of a wage earner can qualify, while divorce alone generally does not.

You must prove it:

• The event: medical records or bills, a layoff notice, severance papers or a death certificate.
• Why you could not recover: insurance claims, listing agreements showing you tried to sell, or tax returns from before, during and after the income loss.
• A signed letter that ties the event to the default and shows you had no reasonable option but to stop paying.

Strong paperwork is what turns a 4-year wait into 2. Gather it now.

Florida is a judicial foreclosure state: find your real date

Florida Statute 702.01 says all mortgages are foreclosed in equity, meaning through a court case decided by a judge. Florida foreclosures go through the circuit court, not a quick out-of-court sale.

That matters because every waiting period above starts at the end of the event, not when you stopped paying. In a Florida court foreclosure, title usually transfers after the court-ordered sale, when the clerk issues the certificate of title. That can be long after the last payment.

• Pull the final judgment and certificate of title from the county clerk's online records.
• For a short sale or deed-in-lieu, keep the closing statement or the recorded deed.
• For a bankruptcy, keep the discharge or dismissal order and the full schedules.

Old debts still on your report after the event? Check that they show a zero balance. A credit score rebuilt with on-time accounts helps with every program.

How QMS Lending helps

QMS Lending (NMLS #1781090) is an independent mortgage broker in Miami, FL, with access to 100+ lenders across conventional, FHA, VA and non-QM. Send us your discharge or completion date and we will tell you which programs you may qualify for today and the exact date each one opens up. Call 305-425-1990, in English or Spanish. Subject to credit approval and underwriting.