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Hi, I'd like to get a va loan after shortsale in October. We have good credit score over 700. Is it possible? Thanks. Aya

by aya725_969_739 from West Covina, California. Dec 12th 2012 Reply


Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,821 contributions

Unless you have a very compelling set of extraordinary circumstance as to why the short sale occurred, you will have to wait like everyone else. VA has a two year waiting period. If however, you were not late on your mortgage payments during the twelve months immediately prior to the close of escrow, we have a program that you should qualify for. It is not VA, so you would have to put t least 3.5% down and there would be mortgage insurance, but we could help you become a homeowner again. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Dec 12th 2012
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Sandy K. Baniqued (Sandyb)
#765 ranked lender in California - 1 contribution

Hi Aya,If you just had a shortsale on October 2012 you can qualify for a new VA loan in 2 years. Conventional and FHA has a 3 year waiting period. Let me know if there is anything else I can help you with.Sandy BaniquedMortgage AdvisorMLO 351381Ascend Mortgage Group510.517.7811sandy@ascendmortgage.net

Dec 12th 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

were both of you on the loan? are you both vets?? yourloanparterforlife@live.com linda

Dec 12th 2012
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Laron McClelland (LaronM)
#675 ranked lender in California - 26 contributions

Hello Aya, To answer your question.. Yes, getting approved for a V.A loan after a short sale is very possible I have done quite a few this year however there are guidelines to take into account. Contact someone that will look at your unique scenario and maximize your benefits give me a call or email me and we can find out what you qualify for Im in Valencia, CA.(just north of Magic Mountain) .Regards,Laron McClellandP:6612479329laron.mcclelland@carringtonms.com

Dec 12th 2012
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Augustus Bukowski (SeattleMortgageGuru)
#0 ranked lender in Washington - 7 contributions

Yes, a short sale can be viewed in a few different ways. If you were late on your mortgage payment prior to the short sale closing it will be viewed as a foreclosure and hold you back from financing. However if you were on time with your payments, you may in fact be eligible depending on the circumstances surrounding your short sale.

Dec 12th 2012
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,875 contributions

Realistically speaking, while there is a potential "exceptions" opportunity....no one ever gets one. Therefore you will need to wait two-years after the property changed title to the new owner. www.VA-IRRRL-Loan_mn.com

Dec 13th 2012
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