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Can I get a mortgage 1 1/2 years after short sale with 20% down?

by brooklynbar78 from Toms River, New Jersey. 15 days ago Reply


It's possible with subprime but rates are much higher. feel free to email me with additional questions.

15 days ago
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Joseph Cordova (JoeCordova)
#98 ranked lender in New Jersey - 18 contributions

The short answer is yes. We can accomplish this with a non QM loan. Let me know if I can be of further assistance.Joseph S. CordovaTrusted Mortgage AdvisorPartnerNMLS 146855Evesham Mortgage, LLC65 East Route 70, Plaza 70Marlton, NJ 08053856-985-9944 Ext. 103 Tel856-304-2381 Cell856-295-4946 Faxjcordova@eveshammortgage.com http://www.joecordova.com

15 days ago
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,795 contributions

All "Conforming" loan products have mandatory waiting periods. FHA, VA, USDA, and Conventional have waiting periods of 1 year (FHA) to 4 years (conventional).. For the FHA "Back to Work" loan, there are a lot of restrictions, and few that apply actually qualify.. However, there are a lot of "Portfolio" lenders out there that have loan products which will allow you to purchase 1 day out of a major derogatory event (like a short sale).. the rates are not good, but there is a loan out there.. once you hit the mandatory waiting period for conforming loans, you can always refinance out of the bad loan. 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

15 days ago
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

NO, and maybe... All your standard loans have minimum waiting periods. Some shorter than others, but none at just 1 1/2 years. You may read about shorter periods with "extenuating circumstances", but no one ever meets the extenuating circumstance guidelines. Finally, there are much higher interest rate, bigger down payment, sub-prime non-conforming loans in the market that may take you are just 1 1/2 years.

14 days ago
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