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Had a short sale 4 years ago, want a conventional loan

I had a short sale on my condo about 5 years ago cause i got a new job in another location. i dont have any credit issues and am currently renting. looking for a conventional loan with 5% down by smitkelly00722816 from Waipahu, Hawaii. Mar 20th 2015 Reply


Alan Van Zee (alan@hawaiimortgage.net)
#32 ranked lender in Hawaii - 9 contributions

The waiting period for conventional loans is this:7 years with less than 10% down.4 years with 10% down.2 years with 20% down.FHA, which only requires 3.5% down has a 3 year waiting period.

Mar 20th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

Not a problem.. so long as you meet all other eligibility requirements, you should be ok.. the waiting period for a short sale is 4 years, and you can do 5% down.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 20th 2015
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Dan Paladin (dpaladin)
#1 ranked lender in California - 448 contributions

Hi, the guideline changed and allows for max LTV(95%) financing with 4 yrs after a short sale. Of course you must meet all the other guidelines as well, income, debt ratios, employment, etc....good luck!!!

Mar 20th 2015
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Gordon Dempsey (travlerm)
#29 ranked lender in Virginia - 26 contributions

I work with a direct lender that is privately funded that will not look at your past credit history. I t does not matter how long ago you had the short sale. This program will offer no pre payment penalty for a 30 year fixed loan. This loan will lend up to 95% of purchase price. This program has a heavy emphasis on your ability to afford the mortgage. income must be proved and documented in order to qualify. The interest rates on this mortgage will be very low regardless of past credit.I can get a pre approval for you in 3 to 7 days after application is submitted. Please contact me Gordon N Dempsey at 540 354 9690

Mar 21st 2015
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Daryn Ogino (Daryn_Ogino)
#30 ranked lender in Hawaii - 7 contributions

Aloha! William and Dan are correct. 4 years must pass, but you must still meet all other lending criteria. We are here on Oahu, so give us a call if you need more information. 808-447-1870 Mahalo!

Mar 23rd 2015
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