I'm a local lender around here and wrote a blog post on my site that specifically addresses this topic. Go to the web reference link below to read it.
I specialize in helping people buy again after foreclosure, bankruptcy, or short selling.
You may qualify for our $0 down payment loan in the Menifee, French Valley, Winchester, Wildomar area. Or, an FHA 3.5% down payment loan in any area around here.
Have you re-established credit since the foreclosure?
Do you have a steady job?
Do you have a down payment?
What debts do you have?
Can you pay for your debts and the mortgage?
You will only know when you call a lender submit your info and await a decision.
It is all pie in the sky here.
Every buyer is different with different circumstances.
Keep in mind a good lender, if you do not qualify today can show you how to qualify in 6 months or a year.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
It is a great start that you are reaching out for advice and assistance. I would like to suggest to you however, that it is best for you to speak directly with a qualified mortgage professional. Be leary of Brokers/agents/lenders who say "YES" without reviewing your personal circumstances, credit and debt ratios. What they aren't saying is that they may be looking at alternative lending options for you that could cost you quite a bit more then the prevailing rate.
A good place to start is with you own bank/financial institution. Explain your circulstances and let them research the options that are available to you, at worst you will find out exactly how long it will take you to get on track to home buying again.
I wish you all the best Mayra and hope you are able to purchase a home in the near future.
Do you know the exact date the foreclosure was recorded? If not , email me the address and I'll find out for you.
I have a couple lenders that may be able to qualify you. Is your FICO at 620 or better? Do you have steady income ?
Keller Williams Realty of Riverside