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Trulia Miami, Home Buyer in Miami, FL

How soon after a short sale can I get a mortgage loan to purchase a house?

Asked by Trulia Miami, Miami, FL Tue Oct 30, 2012

Help the community by answering this question:


I am working with two buyers that did a Short Sale 3 years ago and they already under contract for new home. They qualify for FHA. Let me know if you need assistance.
3 years for FHA + all requirements
2 years for Conventional loan
Marco Torres
Miami Premier Realty
1 vote Thank Flag Link Wed Oct 31, 2012
Easiest thing to do is to call a local lender. All In One Mortgage Lenders are great. They answer their calls 24/7 and you'll get to talk to a loan officer. One of the loan officers number is 305 979 9329. They don't charge points at all!!!! Try it... doesn't hurt to try.
1 vote Thank Flag Link Thu Dec 27, 2012
I just posted on my blog about this topic - - Returning to the Housing Market After a Short Sale, Foreclosure - BOOMERANG BUYERS

Click the link below to learn more!
0 votes Thank Flag Link Wed May 15, 2013
I had a short sale last year and my Realtor recommend http://www.cfs-mortgage.com/flex for a home loan. I am very happy to be able to purchase again.
0 votes Thank Flag Link Sun May 12, 2013
how soon after bankruptcy (chpt 7 ) can one get a mortgage loan?
0 votes Thank Flag Link Sun Nov 11, 2012
Depending on your situation - could be within 2 years.
Certified Distressed Property Expert (CDPE)
0 votes Thank Flag Link Wed Oct 31, 2012
Well, that depends on your personal record and credit. It takes 24 months for you to be able to qualify for a loan, but just as long as you were able to meet the other credit and financial qualifications and guidelines.

You will need to have proper credit score such as 680 above, proper trade lines, down payment of 5-10% depending on your loan.

But to make sure, my suggestion is to contact a lender or broker and explain the situation. Do not let them pull your credit report! Don't lie to yourself; you know if you have increased your credit score... (By making on-time payments, not over extending)
There are several options for finance, but you need to meet with a broker or lender to get all of your options. No needs to search for a home until you have a solid credit approval.

Best of luck and if you are in need of a straight forward real estate professional, please give me a call. I will tell you facts, not sell you dreams.

Iris Romero
(305) 608-5209
0 votes Thank Flag Link Tue Oct 30, 2012
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