How does my credit history impact my ability to qualify?

The FHA is generally more flexible than conventional lenders in its qualifying guidelines. In fact, the FHA allows you to re-establish credit if:

  • Two years have passed since a bankruptcy has been discharged
  • All judgments have been paid
  • Any outstanding tax liens have been satisfied or appropriate arrangements have been made to establish a repayment plan with the IRS or state Department of Revenue
  • Three years have passed since a foreclosure or a deed-in-lieu has been resolved