Funded: 2 Years After Short-Sale 20% Down 5.75% (5.875% APR)

Another area that we’re starting to see lenders expand their offerings is programs for borrowers who have had a short-sale within the past 4 years.

The interest rates on these loans however are usually in the high 6’s and even 7 percent range, which are much higher than typical market rates.

Fortunately, Home Point Financial has purchase loans available to qualified borrowers that have had a prior short-sale or foreclosure, with interest rates below 6% with 20% down on a 5/1 ARM.

Home Pointe also has an exclusive relationship with a credit union offering loan options to borrowers who have had a short sale or foreclosure within one year, with 25% down and rates as low as 4.125% (4.203% APR).

funded

How Else Can I Get Funded?

You can also purchase a home 3 years after short-sale or foreclosure using FHA financing. The waiting period to purchase a home using Conventional financing is 4 years from a short-sale, and 7 years from a foreclosure.

Programs are also available that allow you to purchase a home in as little as one day after a short-sale or foreclosure, but they require a minimum of 20% down, and interest rates are much higher compared to the other programs.

Call or email Chad Baker with any questions to purchase a home after a short-sale or foreclosure.

Testimonials

“Chad and The Chad Baker team really helped me from start to finish with my loan process. They were extremely responsive and provided me updates on a daily basis. I had a few personal issues that they helped me work through so I could get the best loan program and best rate. Very knowledgeable about the industry, rates and trends. I HIGHLY recommend Chad and his team. I’m happy to offer a reference upon request. Please ask Chad for my contact information.”

“Chad and his team got me funded in less than 30 days, completing a deal that another broker fumbled around with for almost 90 days. Effective, efficient and excellent communication skills. Outstanding professionalism.”

I HIGHLY recommend Chad and his team.

Chad and The Chad Baker team really helped me from start to finish with my loan process. They were extremely responsive and provided me updates on a daily basis. I had a few personal issues that they helped me work through so I could get the best loan program and best rate. Very knowledgeable about the industry, rates and trends.I HIGHLY recommend Chad and his team. I’m happy to offer a reference upon request. Please ask Chad for my contact information.”

I hope you enjoyed reading this article. It's my goal to keep you updated with the latest real estate mortgage news. I'm proud to provide you with 100% original and unique content. Subscribe now to get high quality real estate mortgage content and articles delivered directly to your inbox. Chad Baker is Regional Manager for Cross Country Mortgage. Chad is consistently recognized in the top 1% of mortgage originators in the United States 2011-2019. Got a question for Chad? Call (858) 353-8331 or submit your question online