Hi Jason,Thanks for the reply. I did speak with a mortgage broker that looked into my credit report and saw no signs of preforeclosure (it was due to a divorce and there were a few months that payments were not made, but I never heard the word foreclosure mentioned. I was in contact with the mortgage company the whole time). But when the mortgage broker contacted a couple of underwriters they said I needed to wait the 3 years. When I did some online searching I saw that it's possible to get a home loan after 2 years. Maybe I need to talk to another mortgage broker or contact him again?
Do I have to wait 3 years before I can buy a house if I want to get an FHA loan? The FHA loan only requires 3.5 down, but I was told I can't qualify yet. What if I have a larger down payment like 5% down?