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How long after deed in lieu of can you buy a home

by gmatos48871 from Avon, Ohio. May 27th 2021 Reply


Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,300 contributions

Under current rules, from the date of the signing/notarization of the Deed-in-Lieu, You would need to wait two years for VA, Three years for FHA or USDA and four years for Conventional Fannie Mae or Freddie Mac loans. HOWEVER, there are programs available for you in as little as one day. Typically these types of programs require a larger down payment, have higher interest rates and may include adjustable rates, but they will allow you to buy a home now. I've done a few of these in recent years, and once your penalty period has elapsed, you can refinance into a more traditional loan with lower rates. Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000.

May 27th 2021
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,409 contributions

There are mandatory waiting periods after major credit event like that. The waiting period depends on the new loan you are looking for. I have a current list on my web site at https://joemetzler.com/loans-after-bankruptcy-or-foreclosure/ I lend in MN WI IA SD ND. Find me at JoeMetzler.com, Cambria Mortgage, NMLS 274132

May 31st 2021
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