Late payments
Mortgage lates weigh heavier than consumer lates. Most programs want 12 months clean on the current mortgage.
Collections and charge-offs
Some programs require payoff; others allow open collections up to a threshold. Medical collections are often excluded.
Bankruptcy and foreclosure waiting periods
Waiting periods vary by program — commonly 2–4 years after Chapter 7 discharge, and 3–7 years after foreclosure.
Key takeaways
- Program guidelines vary — a broker can match your file to the right one.
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