Want A Mortgage But You Have Baggage

Dated: 07/13/2016

Views: 441

What are the guidelines if you have had a bankruptcy, foreclosure or short sale? 

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Well, it depends on the type of mortgage you are applying for. 

Bankruptcy

Conventional: 4 years from discharge  - FHA: 2 years... - VA 2 years... - USDA: 3 years....

Foreclosure

Conventional: 7 years from recorded Trustee's Deed upon sale - FHA/USDA: 3 years... - VA: 2 years...

Short Sale

Conventional: 4 years - FHA/USDA: 3 years - VA: 2 years

Min. Credit Scores

Conventional/VA: 620 - FHA: 600 - USDA - 640 


If you are interested in getting pre-qualified for your next home let me know. 

Amy Rodriguez - The Queen Team - Keller Williams AZ Living Realty - 928-202-6149 - amy@queenteamhomes.com


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