I did a short sale 2 years before( April 2011) my credit score is 705. I can able to put 20% down.

Asked by Ginson75, Mount Prospect, IL Thu Jun 20, 2013

who can give me a conventional loan. please help me. I am reddy to purchase a home.

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Gary Geer, Agent, Antioch, IL
Fri Jun 21, 2013
Talk to a few lends in your area for assistance. If they can't help you you can buy directly from any seller who can sell on land contract, or do a lease with an option to purchase. With that credit score you should be successful.
1 vote
Dan Drake, Agent, Barrington, IL
Wed Jan 29, 2014
With a short sale, most lenders will want to see at least 3 years from the date of your short sale closing. However some are more lenient that others. Your best bet would be to call a few mortgage brokers to get their expect advice.
0 votes
Jim Holder, Agent, Arlington Heights, IL
Fri Jun 21, 2013
It appears you will likely qualify as the 2 year rule for FNMA loans exists.

Of course, each borrowers situation is unique. Call the master mortgage loan originator at this number (847-542-6264) and you will get an accurate and honest answer. Hope this helps.
Good luck!
0 votes
Daniel Duncan, Agent, Arlington Heights, IL
Fri Jun 21, 2013
Dear Ginson75,

If you did a short sale like you said in April of 2011 or prior you should be ready now to re-enter the market place. You have also stated your score is in the 700's which is good. However, due to the short sale and depending how late your mortgage was you may have to go FHA first, since they are more lenient with that type of situation. If you are interested in pursuing the purchase of a new home I can walk you through the entire process and give you a 30% rebate on any real estate commission.

I would love the opportunity to work with you. You can contact me via email at info@affordablerealtygroup.com for a FREE consultation. I have been working with short sale clients since 2003.
0 votes
Sohail Salah…, Agent, Chicago, IL
Fri Jun 21, 2013
You can put 20% down or even less. From the information that you have provided, you should not have any issues qualifying for a mortgage. Short sales need 2 years before you can get a mortgage and it sounds like you are past that point.

Sohail A. Salahuddin | Founder and Team Leader

Innovative Property Consultants Group | Sales and Leasing


Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 

O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

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0 votes
Michael Mile…, Agent, Northbrook, IL
Fri Jun 21, 2013
Over 23 years in Business as Real Estate & Mortgage Managing Broker I partner with best Lenders.
With credit score 705 and 20% down I can help you to get conventional loan.

Fill free to call me with any questions at 847-962-7007, Text or Email at Michael.Mileykovsky@gmail.com

As a one stop shop I can help you to get Per-Approved, Find & Financing Home of your Dream.

Michael Mileykovsky
Managing Broker
0 votes
Andrew Malak, Agent, Palatine, IL
Thu Jun 20, 2013
Usually they want 3 years after short sale but ask a Mortgage Broker and you might find one. If you need a referral please let me know.

0 votes
Maria Cipoll…, Agent, Coral Springs, FL
Thu Jun 20, 2013
While a short sale let you walk away from a mortgage payment you can not afford, it has lasting consequences. Evidence of a prior short sale is a warning sign for lenders. Your best option is finding a mortgage broker that can explore your financial options and advice you properly. Mortgage brokers
have access to many banks, private lenders and many different programs.

All the Best,

Maria Cipollone

0 votes
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