GITNUX MARKETDATA REPORT 2024
Chapter 7 To Fha Loan Waiting Period Statistics
Chapter 7 to FHA loan waiting period statistics suggest a significant impact on the time frame for loan approval and eligibility following a bankruptcy filing.
In this post, we explore key statistics surrounding FHA loans and Chapter 7 bankruptcy. From the waiting period required for FHA loan eligibility after a Chapter 7 bankruptcy to insights on the demographics of borrowers and the credit score requirements, these data points offer valuable insights into the housing market landscape.
Statistic 1
"The waiting period for getting an FHA loan after a Chapter 7 bankruptcy is 2 years."
Statistic 2
"Over 70% of non-business bankruptcy filings were for Chapter 7 bankruptcy in 2019."
Statistic 3
"The FHA has insured over 47.5 million properties since its inception in 1934."
Statistic 4
"FHA loans have a minimum credit score requirement of 500."
Statistic 5
"The average age of houses owned through FHA loans is 27 years."
Statistic 6
"As of 2021, bankruptcy filings have decreased by 29.7% from the previous year."
Statistic 7
"In 2020, 27% of all closed FHA loans were for Millennial borrowers."
Statistic 8
"In Q3 2020, the average credit score of an FHA borrower was 665."
