Home Buying in 11226>Question Details

David Montal…, Home Buyer in Yonkers, NY

Anyone here get a mortgage 2 years after short sale with lates and 10% down?

Asked by David Montalvo, Yonkers, NY Fri Jul 19, 2013

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There are owners who have had a foreclosure or short sale years ago who just got approved to buy a new home. Nowadays, many lenders have flexible loan programs that you can take advantage of. Visit an expert in your area to see if you qualify. You can also search online.

Check if you qualify for mortgage. Try http http://:www.whywaitbuytoday.com
0 votes Thank Flag Link Tue Aug 13, 2013
David, I can tell you've already got this response from at least one lender. Unfortunately, you'll be eligible for maximum FHA financing 3 years after short sale date. For conventional loans, you need a 20% downpayment to qualify only 2 years after a short sale.

Were you behind on any of the last 12 months before the short sale?

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
0 votes Thank Flag Link Fri Jul 19, 2013
I forgot to add it was conventional financing as well, and got it through a lender in nj.
Flag Sun Aug 25, 2013
Hey Javier,
I just got approved through underwriting with 10% down and a 5% interest rate 2 years and 3 months after my short sale and i was in default at the time, my credit score was a 700 and never was late or delinquent on any other bills. i bought the house for $415,000.
Flag Sun Aug 25, 2013
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