Yes, two yrs after foreclosure va allows new loans. However usually need at least a 600_640 fico score for va. We require a 640 so have your husband g
et a secured credit card and build credit over the next 6 months.
Don't change your retirement plans but you should do an evaluation of the real estate market. There is a surplus of near new resale homes in most areas that represent huge savings. If you are still set on new construction...don't make a final decision until you have seriously considered resales.
Many lenders "shy away" allowing a family have more than one mortgage, best invest do required work then sale than two mortgages could be costly ruin your credit scores if you can't make both payments
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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1) Hire a REALTOR - The "nice" people in the models represent the SELLER and not you as a buyer. Our services for buyers a FREE OF CHARGE 99% of the time.
2) You can have your REALTOR "Negotiate" on your behalf and insist that if you buy a NEW HOME that you earnest deposit be put in a neutral ESCROW COMPANY that "is not" nowned by the builder instead of the builder's general fund.
3) You can have your REALTOR change the language of the builder's contract back in your favor to meet your needs.
4) Buying a NEW HOME is risky because builders have recently gone bankrupt. Consider a resale in the neighborhood.
I hope this helps.
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