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February 25, 2018

FHA MIP REDUCED -- Only Wait 3 Years To Buy After Forclosure

After a foreclosure, how many years must pass before the client is eligible for financing?




  • Timing is calculated from the date the property transferred out of the foreclosed client's name to either:
  • The date of last activity if foreclosure is reporting on credit
  • The date credit was pulled if it is NOT reporting on credit

  • 2 years: VA
  • 3 years: FHA
  • 7 years: Agency & Jumbo

FHA MIP Chart
FHA MIP Chart for Loans Greater Than 15 Years
Base Loan AmountLTVAnnual MIP
≤$625,500>95.00%0.85%
>$625,500≤95.00%1.00%
>$625,500>95.00%1.05%