There are two waiting periods for each type of derogatory and loan types. The first would be if there are “extenuating Circumstances”. The other is just in general how long to wait.
However, typically, most lender will not allow the extenuating rule to apply. There are some out there (Carrington and SWMC to name a couple).
| Loan Type | Derog Type | Waiting Period | If Extenuating Circumstances |
| Conventional | Foreclosure | 7 years | 3 years |
| Conventional | Deed In Lieu*** | 4 years | 2 years |
| Conventional | Bankruptcy 7/11* | 4 years | 2 years |
| Conventional | Bankruptcy 13** | 2 years | 2 years |
| FHA | Foreclosure | 3 years | 1 year |
| FHA | Deed In Lieu*** | 3 years | 0 years |
| FHA | Bankruptcy 7/11* | 2 years | 1 year |
| FHA | Bankruptcy 13* | 1 year | 1 year |
| VA | Foreclosure | 2 Years | 1 year |
| VA | Deed In Lieu*** | 2 Years | 1 year |
| VA | Bankruptcy 7/11* | 2 Years | 1 year |
| VA | Bankruptcy 13* | 0 Year | 0 years |
* from the date of discharge
** from the discharge date. 4 years from the dismissal date
*** from the date of transfer to the new owner