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How long do I have to wait to purchase a home after a foreclosure?

by sammiam6462 from Sun City, Arizona. Jul 6th 2017 Reply


Zoltan Holubecz (Zoltan Holubecz)
#11 ranked lender in Arizona - 6 contributions

2 Years for VA Loan3 Years for FHA7 years for conventionalIf you have a large down payment we do have optional financing. Rate will be higher.

Jul 6th 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,560 contributions

Depends on a number is items. The type of new loan has different waiting periods. FHA says 3-years, VA says 2-years, and conventional says 7-years. But there are also possible exceptions depending personal situation. Most exceptions are almost impossible to get, but... Then there are non-conforming loans which have significantly higher rates and large down payment requirements, but you may be able to get one right away.

Jul 6th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,008 contributions

It depends on the loan product you are applying for.. There's a program that allows for a purchase after 12 months and as long as 7 years.. There are both conforming loans and portfolio loans.. to advise you, we would need more info.. Feel free to call me,, i'd be happy to review your scenario and guide you to the best loan product.. I'm a preferred Lender with Arizona and California 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

Jul 7th 2017
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