we have a new program called the Fresh Start Loan. Foreclosure , short sale and bk ok. It is a 30% down program for primary residence only. It is private money. If you would would like more information please feel free to contact me with questions.
Sr. Mortgage Specialist
Legacy Group Lending, Inc.
The Lender I work with, provides one of the best home purchase program in America. As of 5/3/2012: They provide FREE personalized and comprehensive counseling to Members to address your particular credit and financial issues and help determine a mortgage payment that you can afford. The counseling and underwriting criteria are â€œcharacter-basedâ€ and not based on credit scores and ratios. They also include the following:
No Down Payment,
No Closing Costs (The Lender pays them and does not include them in the loan),
No Lender Fees,
No Pre-Payment Penalty,
No Mortgage Insurance,
No Perfect Credit,
Fixed 30 year below market rate at 3.5%
If you are interested to know more about this Program please contact me.
Have a GREAT evening!
Vivien L Biggs PLC
Prudential Arizona Properties
Check MLS for homes on my website
You will definitely want a bit more time to pass before you attempt to take out a conventional loan for purchase. There are hard money options out there, that will come will a large down payment as well as higher interest rates. I would recommend doing some credit restoration and enhancement in the meantime so you are ready in the next 24 months.
In the meantime, build your credit and save as big a down payment as you can.
All the best!