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Can I get a loan?

I had a short sale in 2014, my credit is now 710, i have about 6% to put down. Can i get a loan without 20% down? by mrnotsoniceguy303 from Earleton, Minnesota. 8 days ago Reply


David Fox (dfox@progressivels.com)
#78 ranked lender in Minnesota - 2 contributions

Your scenario looks very good! Yes, you can get a loan without 20% down. Please call me for more details and how I can help you get it done. David Fox 651-636-2840 extension 11. I will be here all day to help you! Thank you.

8 days ago
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Yes, FHA will allow a short-sale in your past, as long as it is more than three years from the date of application. You do not have to put 20% down. The 6% you have is enough for FHA. I can be reached at 763-226-3807. David Emmeck, PERL Mortgage, NMLS #781853

8 days ago
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Want to know for sure? Apply now at www.movement.com/lo/jeremy-redlinger

8 days ago
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,930 contributions

The short answer is yes.. but we need more info.. FHA allows you to purchase 3 years after a short sale, and you only need 3.5% down.. VA (assuming you have VA benefits available) only requires 2 years and you can go zero down.. For conventional financing, you need to wait 4 years, but it's possible to do it in 2 years with "Extenuating Circumstances".. The best advice I can give you is to contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

7 days ago
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