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Can I get a mortgage with a short sale 3 years ago?

I am VA eligible and the short sale was a house also with a VA loan

by ediegnash9834298269 from Tulsa, Oklahoma. May 13th 2014 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,033 contributions

VA will NOT allow another VA loan is there is any loss on a previous VA loan, unless you pay that loss back. As it was a short-sale, you should immediately request a VA Certificate of Eligibility to see what they are showing, and even if you are VA eligible at this time. www.VA-IRRRL-Loan-MN.com

May 13th 2014
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Steffnie Parsons (Steffnie)
#14 ranked lender in Oklahoma - 61 contributions

Joe, is correct. I can't even add anything to his statement.

May 13th 2014
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Correct you'll need to look into FHA or HUD 184. Www.todaylending.com

May 13th 2014
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Louis Jeffries (LouisJ)
#11 ranked lender in Illinois - 57 contributions

That is correct, but you may consider an FHA loan.

May 13th 2014
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Shaun Weeks (sweeks)
#898 ranked lender in California - 106 contributions

You can do this FHA after 3 years and you can do this conventional after 2 years with 20% down.

May 13th 2014
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Nick Utesch (nick@valoansok.com)
#2 ranked lender in Oklahoma - 22 contributions

Actually you might very well be able to do another VA loan even if your previous home you had a short sale on was a VA mortgage (even without having to payoff the loss the VA suffered). There are some intricate calculations that come into play with determining how much you are eligible for on a new VA loan that are based on how much of a loss the VA suffered on your previous loan.Also, it must be 3 years from the date the VA reported the loss so you have a clear CAIVR's number. I specialize in VA in Oklahoma and can help you determine if you can do another VA loan. www.valoansok.com or nick at 4 0 5 - 3 0 8 - 4 2 0 8

May 13th 2014
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