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How long do I have to wait to get a VA Loan after a Short Sale?

How long do I have to wait to get a VA Loan after a Short Sale?

Many Veterans have encountered financial Hardship during the past several years, including the Short Sale of their home.  Active Duty Recalls, Deployments, Overseas Tours, Risky Mortgage Loans, falling Real Estate Prices, Unemployment, etc have created financial Hardship for many Veterans across the Country, resulting in the necessity to Short Sell their home.

We have good news for our Vets:   You can get a VA Loan soon as 2 years after the Short Sale Date in California.  Some cases qualify even sooner. 

California VA Loans After Short Sale:  the minimum waiting period is 2 years after the Short Sale Date if you were late on your Mortgage Payments at the time of sale.  The Underwriter will require that you have zero late payments on anything since the Short Sale,  and zero collections since the Short Sale as well.   Re-establishing credit is a must as well,  whether it's a car loan, or small credit card.   

If you Short Sold your Home and were on time with all your Mortgage payments prior to the sale,  we do not require a 2 year waiting period in most cases.  One word of caution, if the loan on the short sale home was a VA Loan,  it will trigger teh 2 year waiting period.   It will also require that you have enough entitlement after the Charge against Entitlement to reach the VA Guarantee figure of 25%.    

Timelines for California VA Loans after Financial Hardship:

  • VA Loans after Bankruptcy - as soon as 2 yrs after Bankruptcy Discharge
  • VA Loans after Foreclosure – as soon as 2 yrs after Foreclosure Sale Date
  • VA Loans after Short Sale – as soon as 2 yrs after Short Sale date
  • Short Sales that had no late Mortgage Payments prior to date of sale may be eligible sooner than 2 yrs (sometimes immediately after sale)

If you have experienced one of these financial hardships and are a Veteran (or all 3 in some cases)  please call us to find out how soon you may qualify to purchase a new home, upgrade your existing home, or refinance your current loan to take advantage of low interest rates.  866-900-2342 toll free direct.  

                               

 

 

We proudly offer a full array of Government Conventional, and Jumbo loan Options including FHAVAUSDAFHA JumboVA Jumbo, VA Refinance, Conventional, JumboVA Condo loans,   FHA 2-4 Unit LoansVA 2-4 Unit Loans, FHA 203K Rehab Loans,  5% down Conventional loans Conventional Condo's OK to 95%,  95% conventional purchase with ZERO Monthly PMI, and more.  

Veterans:  We are able to help Veterans with a new home purchase with a VA Loan or VA Jumbo Loan as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale (even sooner if Short Sale involved no late payments).  Call Today - get back into homeownership!  

 

--> VA Loan Limits for 2018.  Learn More - Up to $679,650 with zero money down VA Jumbo Loan 

 

--> VA Loans over the County VA Loan Limit - yes, we allow this:   Read more detail on how to get a VA Loan Over your County VA Loan Limit here  VA Loans up to $1.5M!

 

--> Answers to Common VA Loan Questions - VA FAQ Series

We serve the entire state of California  including: Anaheim,  Antioch,  Bakersfield, Brentwood, Burbank,  Carlsbad,   Chula VistaCorona,  Coronado, Downtown San Diego, EncinitasEscondido, Fallbrook,  Fremont,  FresnoHermosa Beach, Huntington BeachIrvineLong BeachLos Angeles, Marina Del Rey,   Menifee, Monterey, MurrietaOakland, Oakley,  Oceanside,  Ontario,  Pasadena ,  Poway,   Rancho Cucamonga,  Redlands,   Riverside,   Sacramento,        San BernardinoSan DiegoSan FranciscoSan JoseSan MarcosSan MateoSanta Ana,  Santa Clarita,   Santa MonicaTemecula, Torrance, Ventura, Vista, and all other CA Cities and areas.

 

We now serve the entire state of Virginia including Virginia Beach, Norfolk, Chesapeake, Richmond, Newport News, Alexandria, Hampton, Roanoke, Portsmouth, Suffolk, and all other Virginia Cities, Towns and Counties. 

 

We also serve the entire state of  Washington including:  Auburn, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Des Moines, Edmonds, Everett, Federal Way, Ferndale, Issaquah, Kent, Kirkland, Lacey, Lake Stevens, Lynnwood, Mercer Island,  Mill Creek, Monroe,  Montlake Terrace, Mt Vernon, Mukilteo, Olympia, Puyallup, Redmond, Renton, Seatac, Seattle, Silver Lake, Snohomish, Spokane, Sumner, Tacoma, Tumwater, Vancouver, Wenatchee, Woodinville, Yakima and all other WA cities and towns. 

 

We also serve Alabama, Colorado, Georgia, Illinois, Indiana,  Massachusetts, Michigan, Mississippi,  Indiana, Tennessee, Texas, and Wyoming Homebuyers and Homeowners.  

 

VA Loan Limits 2018     FHA Loan Limits 2018     Conforming Loan Limits 2018

All information is subject to change without notice.

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VanDyk Mortgage is a private company specializing in FHA & VA financing,  VanDyk Mortgage Corp is not a government agency. Corp 2449 Camelot Ct SE, Grand Rapids, MI 49546

copyright 2018 VanDyk Mortgage Corp

 

Branch address  310 Via Vera Cruz, ste 210 & 211, San Marcos, CA  92078  760-752-4480 direct

NMLS ID:  3035 - VanDyk Mortgage Corp   NMLS ID  220268  

Brian Skaar - Loan Originator / Branch Manager   

 

NY Disclosure:  Website authorization has not been approved by teh New York State Department of Financial Services.   Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. 

 

       


 

Comment balloon 0 commentsBrian Skaar • April 23 2012 08:50AM

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