Keywords: Buy Home Short Sale Foreclosure
You CAN buy a home after a short sale or foreclosure, and it might not be as hard as you think.
A typical VA or FHA loan allows you to obtain financing for a new home purchase in as little as two years after a short sale or foreclosure. It’s true!
I have already sold homes this year to clients who have done just that… purchased in as little as 2 years after such an event.
With a VA loan (must be an eligible veteran), you may be able to purchaser with “no money down” two years after a short sale or foreclosure.
An FHA loan requires a minimum of 3.5% of the purchase price as a down payment (although this can come from gift funds), and you’d have to wait 3 years to be eligible for a home purchaser.
Granted, since the short sale or foreclosure, you would have to work to get other debts paid on time, and outstanding debt reduced, maintained a solid rental history, and have income to support the new mortgage. But, yes, Virginia there is LIFE AFTER A SHORT SALE OR FORECLOSURE!
Actually, I have been contacted by a reporter who would like to interview a few people who have used FHA to purchase after either a short sale or foreclosure. Is that you? Are you willing to be interviewed? Let me know! I can connect you… [email protected]
If you had a short sale or foreclosure and are interested in buying again before prices of home get much higher, I can help connect you to a great lender to get you started! You can reach me at 703-669-3142 or [email protected].
Buy Home Short Sale Foreclosure