Please call me at 210-789-2870 to find out how.
As a Realtor, many of us have direct contact with lenders who are experts in this area. Working together as a team, we can get you the information you need to be able to go forward in your efforts to be in your new home.
You can also look into owner financing.. though the choices are pretty limited and you will need at lest 10 to 20% to put down
All depends on how that tradeline was reported and what your reported hardship was. I'm seeing some new short sale approval matrix'es coming down from some of our local lenders that are allowing clients to get back into an FHA 3.5% down mortgage after the 3rd anniversary date from the day it closed. That's key.
Also, your current open tradelines will certainly help with manual underwriting in the event you will need it once your 3 years are up. Let us know what we can do and how we can point you in the right direction.
We are seeing clients that we had worked with over 4 years ago that are now close to the green light with some of these terms met.
Let's see what we can do to point you in the right direction.
The Tall Short Sale Guy
Your short sale needs to not show up on your credit report for you to "usually" be able to get another mortgage loan. I have seen it take as long as 3 years and this was with folks that still had a very high credit score. I advise you to talk to a Loan Officer and see exactly what you can do before getting involved in purchasing a home.
Contact Bob Ainslie 210-863-5871 BAinslie@GoldFinancial.com . He is very familiar with folks that have short sales on their credit reports.
Make it a great week!
I can highly suggest that you talk to Vino Alonzo with Castle & Cooke Mortgage. He is currently helping out two of my clients with their USDA loans. He is very knowledgeable and has great insight.
I would be happy to help you find your next home. Please check through my recommendations for the thoughts of others that have worked with me previously.
I look forward to hearing from you soon
Keller Williams Realty
The USDA loan program is a popular option for people who have had a short sale or foreclosure in their past because it is one of the mortgage programs with the shortest waiting periods and most flexible underwriting guidelines. The waiting period for a USDA loan after a short sale can be as little as 2 months in the right situation.
I would not start the conventional buying process until you can get approved for another loan. You may want to check into the USDA programs. Another option is to buy a home on a land contract. You make the payments to the owner for 2 to 3 years and then pay off the balance with a bank loan. This can also be a good way to build back credit.