Answers (3)
- Lon Mapes, "RedlandsRealtor"
- Contributions:38
Hi, I'm a broker located right in Redlands. Please feel free to contact me at (909) 307-1008 and our team can assist you. We have relationships with all the major lenders in town.
- Jack Pysz, "JPyszChicago"
- Contributions:97
HERE is how it plays out. MOST lenders require 36 months after you did a short sale. There are plenty of exceptions though. With a large down payment (30%) and of course sufficient income there are also plenty of lenders who will finance you after 24 moths. Also, 24 months is a minimum time you have to wait. Another thing, you might try Credit Unions as they go by their own set of rules. You can go with HARD MONEY lenders, however this might lead to a disaster so be very careful and do the math first. My advice - save up as much as you can for a down payment and then start shopping around. Start with a mortgage broker, they are usually SHARKS and will do everything possible to help you, as this is what they get their commission for. If they can`t do it , then you might have a problem. Also going directly with the bank DOES NOT MEAN you are getting a best rate. A broker is able to get you a lower rate. Hope this helps.
- Loft Living LA
- Contributions:27
You should be working closely with a lender. They are best to answer those questions as it will differ person to person.
i had a short sale 2 years and 6 months ago- my credit score is about 650. when can i buy again?
There are no extenuating circumstances for the shortsale. We are so close to the 3 year mark, I was just wondering if FHA will consider with good credit and sufficient income.
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