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When can you start to look at getting prequalified when you have 20% down and had a short sale

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March 06 - Las Vegas
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As long as you have gone through the waiting period and have rebuilt your credit you can start looking for another mortgage for a home. The waiting period will depend on the loan you choose and your finances. It can last from 1-7 years depending on your finances before you can purchase another loan. If you would like an FHA loan, the waiting period is 3 years, but there is an exception. If you experienced an economic event that caused a loss of income (such as unemployment) which then resulted in your short sale, then you will have only have to wait 1 year. When it comes to VA, the wait is two years. If you plan to go conventional the waiting period is 2 years with 20% down, 4 years with 10% down, and 7 years with 10% or less down. Lastly, you will also have to have rebuilt your credit after the short sale. Either way, the best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

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March 07
1 day
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March 06
We do loans in Las Vegas one day after Short-Sale or Foreclosure. I just closed one on a highrise condo in Vegas. It's a 20% down-payment and you would only need a 660 minimum mid FICO score (down to 620 w/ exception). This is only for owner occupied primary residences. Let me know if we can help!

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March 06
You have to wait 2 years as long as your credit report rebounds.
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March 06
 
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