If you experienced in the past that your house went into a short sale situation or was foreclosed on, your are in luck. You can purchase a home in as little as 2 years utilizing the VA home loan purchase program.
VA lending is the fastest way you can own a home again after a short sale or foreclosure. As long as the home you had foreclosed on was not a previous VA loan. If that was the case you will need to contact your local VA office to work on getting your VA status back to eligibility. VA will not lend again to a homebuyer that is an open case with a previous foreclosure.
The VA home loan is available to active and retired military personnel looking to own a home as their primary residence up to 100% of the purchase price (there are county loan limits) depending on the area you are looking to purchase in. This is the best performing home loan program with no money down, that’s right zero down as long as your purchase price is lower than the county loan limit.
Having a short sale or foreclosure does not hurt your chances of becoming a homeowner again in California. Before you turn yourself down from what you hear outside the mortgage industry, contact me and lets explore your options and hear from an industry leader on current VA lending guidelines. You might be surprised on what your hear, I welcome that opportunity to present you all available lending option here in California.
The other home loan programs such as FHA, Conventional and USDA home loans have there own set of guidelines on when a homeowner can purchase a home again after a short sale or foreclosure that will appear on a mortgage related report.
If you are a retired or active military and looking to purchase a home for you and your family with no money down, let’s talks about your options of homeownership in California.
My goal is to present you loan options after reviewing your credit and income to determined what available home loan programs meet your goal of owning a home. Call me directly at 909-503-5600 today and start the process of buying a house in California on the VA home loan program. I look forward in hearing from you.