Is it possible for me to get a FHA home loan?

Still need much more info, but in general, there is a 3 year waiting period from the date your home was transferred out of your name. If your lender initiated foreclosure, and you moved out, and it took them 1 year to actually foreclose, then the timeline starts when the home actually was foreclosed and deeded back to the bank. If it's been 3 years, score of 745, then you should qualify. Still need income information and debt, time on the job, type of employment.. ie, salary, hourly, 1099, or self employed.. all of this plays into whether your approved or not. Best advice I can give you is to contact a local mortgage broker, not a bank and apply with them... they will be up to date on the latest programs guidelines, and should be able to guide you in the right direction.. WilliamAcres.com

Great answer by William. I am a local 11 year broker here in Raleigh and if you care to reach out I will pick up where William left off. My email is ParrishRegister@gmail.com

Sarah have you re-established credit with at least 2 lines and excellent rental history then you may qualify for FHA enough time would have passed for FHA Financing. Happy to get you started you can contact me at ballen@accessnational.com or 888-354-3299.

The biggest problem you may be facing is the timing. The waiting period to become eligible is 3 years. The clock starts on the day the bank records the foreclosure deed with your county recorder, not necessarily the date the foreclosure sale took place. I have seen situations where the actual recordation date was as long as 9 months after the date the homeowner thought the foreclosure occurred. Also, if the foreclosed loan was an FHA loan, the clock starts on the day FHA pays out the claim to the bank, not the date the deed was recorded. My advice is to contact a local Mortgage Banker/Broker, and not one of the big banks. Generally, the employees of the big banks are just order takers. A licensed Mortgage Banker/Broker can assist you in determining the date your 3 years started and make sure you are ready to go as soon as your time is up. Good luck.