[youtube https://www.youtube.com/watch?v=D7_j7hHyfaU&hl=en_US&version=3]

We’ve all been through some rough times during the past few years thanks to the economic downturn. But, now that the market is getting better, many buyers are looking to start a new chapter in their lives by purchasing a new home in Atlanta. However, just how long will those bumps and bruises on your credit report keep you from qualifying for a mortgage? Here’s a look at how long you will have to wait to apply for a loan after going through a foreclosure, short sale or bankruptcy filing.


  • Conventional loans-Seven years
  • FHA loans-Three years
  • VA loans-Two Years

Short Sales:

  • Conventional loans with 20 percent down-Two years
  • Convention loans with 10 percent down-Four years
  • Conventional loans with less than 10 percent down-Seven years
  • FHA loans-Three years
  • VA loans-Two years


  • Conventional loans-Four years
  • FHA loans-Two years
  • VA loans-Two years

Still not sure if you can qualify for a loan? Call Academy Mortgage at 404-558-4399 to speak with one of our loan consultants.

Academy MortgageEqual Housing Lender. (c)2013 Academy Mortgage License #3113. GA Lic. # 20505. This is not a commitment to lend. Academy Mortgage Atlanta: 5565 Glenridge Connector,  Suite 400. Atlanta, GA 30342. Georgia Residential Mortgage Licensee.

Leave a Reply

Your email address will not be published.