Brandy, Home Buyer in Easton, PA

Is it possible to pay a 20% down payment on a short sales?

Asked by Brandy, Easton, PA Wed Aug 20, 2014

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Dan Tabit, Agent, Issaquah, WA
Wed Aug 20, 2014
Financing a short sale, once approved is the same as any other home. You can put down as little as $0 on a VA or if it's approved USDA, 3.5% for FHA or as little as 5% for conventional. The fact that you're buying a short sale doesn't impact your financing unless the home can't meet VA or other condition requirements.
Just be aware that a short sale can take 3 to 9 months or even more. While you're waiting other properties are coming and going off the market and rates and prices will be affected.
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