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Short sold residence in AZ a year ago, want to buy again in MI. Do I have to wait 2 years

We have credit score over 700 and have atleast 20% to put down. We are looking for a loan for around $50,000. Any financial instituitions that don't go by fannie mae recommendations
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May 31 2012 - Westland
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You may be able to purchase a home there are several programs out there
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February 20 2013
Hi there!
The good news is that there are alot of lenders out there...
your best bet is to ask your local realtor (I can reccommend one for you, if you do not have one in MI, you  can email me)  With your good credit,
it is worth exploring with a few Lenders.  I would reccommend (if you were in my area) to talk with a few Lenders and find out if they do their own underwriting.  The big banks will hold to Fannie Mae requirements, but, many of the former "Loan Broker" have gone to private funding banks, and handle their own underwriting, and therefore have more discretion and latitude.  It is worth exploring, as you will learn more, and then be able to adjust course and likely be able to buy.  If you go to the Big Banks (WF, BofA, etc...you will get the party line).  A local real estate agent can probably reccommend a few local Lenders who can help you.
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May 31 2012
 
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