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 Amount	LTV	Annual MIP
≤$625,500	>95.00%	0.85%
>$625,500	≤95.00%	1.00%
>$625,500	>95.00%	1.05%