New FHA loan with previous loan modification

Asked by ST, 92126 Wed Jul 17, 2013

I am trying to purchase a house of 765K with 10% down payment. I am OK with FHA also. However, I had a loan modification approved on a previous house in Feb 2011. Is there any lender who can help in this situation? I spoke with a mortgage broker however their comment is I need minimum 3 year after a loan modification before approval of a new loan. Any advice is really appreciable.

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Robert Chome…, , San Diego, CA
Fri Aug 2, 2013
Many lenders were looking at loan mods like short sales or foreclosures and wanting a 3 year wait. Give me a call and I can research the latest, there may have been some changes.
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Alexander Gr…, Agent, San Jose, CA
Fri Aug 2, 2013
We can certainly help you out. You can check us out at and give us a call. One of our loan officers will look at your situation and present you with some options.
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Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Wed Jul 17, 2013

I do not know why the lender would have an issue with a modification on a "previous house" unless you had been delinquent on your mortgage and the lates are reflected on your credit report (and even there if it has been more than 2 years, you should be OK)...or maybe it is is because you are going to the same lender (and they might have a policy about that)...I do not know.
Anyway, it should not be an issue. You do not need to FHA with 10% down either, unless your debt-to--income ratio os hight and/or your credit scores are below 700....

Feel free to call me to further discuss.

Thierry Abel

Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701
0 votes
Darren Carlin, Mortgage Broker Or Lender, Pleasanton, CA
Wed Jul 17, 2013
Hello, unfortunately you live in Placer County which has a maximum FHA loan of $580,000. I may have a lender that would consider the loan that you seek depending on your employment, debt to income ratio, Fico score Etc. you can go to my website. I have a user friendly apply online tan ( just a short application) and I will contact you tomorrow to let you know if I can get you qualified. Thank you and I hope to see your application.
0 votes
Hi Darren,
Thanks for your response. The purchase will be actually in San Diego County.
Flag Wed Jul 17, 2013
Jacob Varghe…, , San Jose, CA
Wed Jul 17, 2013
I have a lender who will examine every application on a case by case basis.

I charge no application fee, no credit check fee. No points. Closing costs can also be free but you keep in mind you are paying a bitter higher rate. Nothing is free.

NMLS 327086
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