Home Buying in 93021>Question Details

Plumeria75, Home Buyer in 93021

We just did a short sale because we got military PCS orders. Now he is retiring instead and We were current until it sold. Can we do a VA loan soon?

Asked by Plumeria75, 93021 Wed Jul 25, 2012

Help the community by answering this question:

Answers

3
Hello Plumeria75, I have some new information that may pertain to you getting a new loan right now. I only need to ask a few questions to clarify if it was a VA loan you did a short sale on? Did you relocate to a new area and where do you intend on buying now? Once I know these answers since you had been current on your loan until funded, you may be eligible.

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Wed Nov 14, 2012
Dear Plumeria75, I am sorry to say that you will have to wait 3 years to be able to do an FHA loan. If you had a VA loan on the home that you had to short sale and there was a deficiency. You won't be able to do another VA loan until that deficiency is paid off. You on the other hand can qualfiy for an FHA loan 3 years and one day after the short sale close date. You will only need a minimum 580 fico score to qualify for CHF Access half percent down payment program which can contribute towards your closing costs as well.

Here is a link, flyer, maximum income limits and a needs list. Home prices should be still lower than you had to pay for your house that you sold and a lower payment too.

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

CHF Access half percent down flyer, pdf
http://tinyurl.com/9ewk9nq

Sheryl Arndt, standard needs list checked, pdf
http://tinyurl.com/9m2rsb2

CHF Access income limits http://tinyurl.com/8lzf8he

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Mon Nov 12, 2012
Check with a VA Lender. I know you would qualify for FHA, as long as you were current on the previous short sale. Conventional lenders will not lend if a recent Short Sale is found by the underwriter on your credit report.
0 votes Thank Flag Link Mon Oct 22, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer