I had a nice conversation today with a couple who live on the Georgia coast. They had a foreclosure just over 2 years ago, but have truly rebuilt their credit profile. With a 650ish credit score and a solid income, how long before they could buy a home again?
Conventional programs require 4 years now after a foreclosure. The right answer for them turned out to be an FHA loan. With 24 months of good credit since the foreclosure, they are able to qualify for an FHA loan with rates in the low 5’s. Amazing isn’t!
