BUYERS WITH SHORT SALES, FORECLOSURES OR BANKRUPTCY
Home 1st Lending recognizes how the recent downturn of the economy has caused many credit-worthy individuals to lose their homes to short sales and watch their credit scores fall. Many were victims of lost income and plummeting home values.
Conventional Loans: 20% Down Payment and Credit Scores of 680 or Higher and need to be 4 years from your Short Sale.
Home 1st Lending and their Lenders address this issue by treating short sales on a buyer’s credit report in a more positive manner. We do not treat the missed payments prior to the short sale as negative credit.
FHA and USDA Loans: No Money Down and Credit scores at least 640. You need to be only 3 years from your Short Sale.
VA Loans: No Money Down and Credit Scores of 600 or higher. You only need to be 1 year from your Short Sale.
More importantly, Home 1st Lending and their Lenders do not treat short sales as a foreclosure. If there were no late payments made on the home sold by short sale there is no seasoning required meaning a short sale could have occurred last week or last year.
PRIVATE BANK - NON TRADITIONAL MORTGAGES
Fortunately there are Private Banks that are offering Non Traditional Mortgages for Borrowers who are just 1 Day out of Short Sale, Foreclosure and Bankruptcy. Now you can also purchase a new home with a little as 20% down payment.
These loans are 30 year fixed rate loans and Rates start at 7.99%. There is NO Prepayment Penalty so you can refinance out of this mortgage as soon as you qualify for a traditional mortgage.
This Mortgage can be for a Primary Home, Second Home or Investment Property.
Call (877) 257-0042 to get more information or to discuss your scenario and to be preapproved for this loan today