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Bankruptcy and Foreclosure Seasoning Requirements

Florida Down Payment Assistance Lending Process

Program Foreclosure Bankruptcy Short Sale
Conventional 7 years from completion Ch. 7 – 4 years from discharge/ dismissal
Ch. 13 – 2 years from discharge/4 years from dismissal
4 years from completion
FHA 3 years from completion date; FHA pays the initial claim and clears CAIVRS Ch. 7 – 2 years from discharge – AUS approval
Ch. 13 – 1 year of payment period must have elapsed with satisfactory payment performance and permission from the court
No seasoning if:
• Borrower made all mortgage/ installment payments within the month due for 12 mos. prior to the short sale, AND
• Made all mortgage/installment payments within the month due for the 12-mo. period preceding the date of the loan app for the new mortgage.
• 3 years seasoning from completion date required if in default at time of sale.
VA 2 years from foreclosure date Ch. 7 – 2 years from discharge – AUS approval
Ch. 13 – 1 year of payment period must have elapsed with satisfactory payment performance and permission from the court
2 years from completion
USDA 3 years from completion Ch. 7 – 3 years from discharge
Ch. 13 – 1 year of payment period must have elapsed with satisfactory payment performance and permission from the court
No seasoning if:
• Borrower made all mortgage/ installment payments within the month due for 12 mos. prior to the short sale, AND
• Made all mortgage/installment payments within the month due for the 12-mo. period preceding the date of the loan app for the new mortgage.
Caliber Jumbo 7 years from completion 7 years from discharge/dismissal 7 years from completion
Fresh Start No seasoning requirement No seasoning requirement No seasoning requirement
Homeowner's Access 2 years from completion Ch. 7 and 11 - 2 years from discharge/ dismissal
Ch 13 - Satisfactory payment performance and written permission from the court
No seasoning requirement
Jumbo Alternative 4 years from completion 4 years from discharge/dismissal 4 years from completion
Investor 2 years from completion 2 years from discharge/dismissal 2 years from completion
Foreign National 7 years from completion 7 years from discharge/dismissal 7 years from completion