Home Buying in 94565>Question Details

Vertelinge, Home Buyer in San Francisco, CA

had a short sale in 2009. can only get an FHA loan w/ PMI. Any program options other than FHA and PMI?

Asked by Vertelinge, San Francisco, CA Fri Feb 22, 2013

credit score over 700 zero debt

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Answers

6
Well...since this question is now 2.5 years old...you are now eligible for conventional financing upto $625k in certain lending areas.
If you are looking for Jumbo loan over $625k, your wait timeis 7 years.
0 votes Thank Flag Link Thu Nov 19, 2015
There are new guidelines. You may also be eligible for programs without PMI. Check with a lender.Your credit score is good but you may need some seasoning. Right now there new guidelines and programs that you can explore.
0 votes Thank Flag Link Fri Jan 2, 2015
Your credit score is good but you may need some seasoning. Right now there new guidelines and programs that you can explore.
0 votes Thank Flag Link Fri Jan 2, 2015
There are new guidelines. You may also be eligible for programs without PMI. Check with a lender.
0 votes Thank Flag Link Fri Jan 2, 2015
Yup, VA financing if you are a veteran.

Conventional financing if you have 10% down (and the short sale has been 4 years old) or 20% down (if the short sale is at least 2 years old).

When in 2009 was the short sale?

How much do you have as far as a down payment?

What sales price range are you looking in?

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct
0 votes Thank Flag Link Fri Feb 22, 2013
Hi Vertelinge, Consult a mortgage lender.
0 votes Thank Flag Link Fri Feb 22, 2013
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