I have experience helping folks who had a recent short sale with similar credit to yours. I may be able to help you purchase a primary residence with 20% down inside of a year or 1 day after. I would be happy to talk to you about the portfolio program we offer.
My website is listed below with my contact information if you would like to talk over the phone. We are also a direct lender.
If you need any help with your home search, feel free to contact me. I've lived here for about 30 years and it's a wonderful place to live!
REALTORÂ® - lic #01923240
Certified Public Accountant (CPA) - lic #103885
Hammer Real Estate Group
Everyone's short sale scenario is different and there are several factors that need to be considered before a lender can qualify you with a new home loan. Different lenders also have different programs and it could take 1 - 3 years depending on your specific scenario. The Mortgage Consultants Group has a "Life After Program" that helps homeowners who did a short sale, foreclosure, or bankruptcy. Feel free to give them a call to qualify.
Have a blessed weekend!
Real Estate Broker
The 1st step is repairing your credit. I have gotten clients back into a home within a year of when I sold their home as a short sale. Others have taken up to three years. Once your credit is back to where it needs to be, banks will start to consider you for a loan. Sometimes local banks will help you sooner than the large national ones
If you have to rent for a little while that at least gives you time to learn about Sacramento and what areas appeal to you the most.
Even though it shows "less than owed" --per your response to Elizabeth, I would recommend that you not be too distraught yet!! Check with a mortgage broker first. I thought there were some programs for short sellers 2 years after the sale.
An FHA loan is not that bad. Mortgage insurance can make the payment higher, but interest rates are low.
At least make some calls and find out. Might not be as difficult as you think. I recommend a broker (Like Elizabeth recommended Comstock), over a bank--usually more options. You can also call Evelyne Jamet at Vitek. 916-452-8800.
Even if the news isn't what you want to hear, she can at least tell you where you stand, and what to do next. GOOD LUCK!
I no longer originate loans day to day. I do more consulting for Loan Officers.
Give me a call and I can help direct you in the right direction.
Look forward to helping you,
The DaRosa Team - Keller Williams Realty
916-402-5786 Call or Text