Financing in Oklahoma City>Question Details

musicalkitty…, Other/Just Looking in Oklahoma City, OK

Is there any chance of getting approved for a USDA Guarantee loan in Oklahoma after having a short sale?

Asked by musicalkitty123, Oklahoma City, OK Sat May 25, 2013

I've emailed the USDA and they said there is no set waiting time after a short sale, but I'm just wondering if anyone in OK has done this successfully and also looking for potential lenders.

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I had a house about 10 years ago. I did a quick sale. I'm not sure if my payment were up to date at the time of sale. I do know that my payments were behind at the time I contacted the people that bought the house . I don't have any paperwork. I don't remember much of anything about it. The house was in Moore oklahoma. I do want to purchase a house in putnum city area/ schools. I have worked at Tinker air force base for 13 years. My credit isn't good due to my identity being stolen. Also I had a cell phone that went on my credit years ago. I know my credit is bad because I have tried to apply for small credit and was denied. What can I do to get a home now? I have been living with my partner for 10 years now.
0 votes Thank Flag Link Sun May 26, 2013
This may very well depend on whether you paid your last mortgage on time up and until the closing. I sold a house last year where the buyer had a short sale a year earlier, but was on time and up to date with her payments until the closing. Her credit score was still in the 700's. Find a good mortgage broker who knows the rules.

Good luck!

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate - NY's #1 Real Estate Broker
0 votes Thank Flag Link Sat May 25, 2013
Depends on how long ago the short sale occurred. A Lender with USDA loan experience can help.

Best of luck!
Web Reference:
0 votes Thank Flag Link Sat May 25, 2013
I recommend contacting Dena Wilcox at First Mortgage. She's an expert is USDA and has been very helpful in the past.

Please feel free to contact me when you're ready to start looking for a new home. I'll be happy to help.

Dena Wilcox
First Mortgage Company
Mortgage Loan Officer
NMLS #233552 FMC #2024
Office: 405.842.8090
Fax: 405.842.2593
Cell: 405.314.2532
Apply online:

Best of luck,

Bridgett Wells
Keller Williams Realty Elite
0 votes Thank Flag Link Sat May 25, 2013
Thanks Bridgett!
Flag Sat May 25, 2013
It will all depend on your overall credit history. Please call Brooke Hukill @ 405-802-8774 for specific guidance. If it's not possible to get it done right now, she can give you specific steps to take to get there.
0 votes Thank Flag Link Sat May 25, 2013
Call Kurt Swink, Owner of Financial Concepts Mortgage at 405-722-5626 and he will be able to go over the ins-and-outs of USDA loans.
Web Reference:
0 votes Thank Flag Link Sat May 25, 2013
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