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 FHA, VA, USDA, FHA Jumbo, VA Jumbo, VA Refinance, Conventional, Jumbo, VA Condo loans, FHA 2-4 Unit Loans, VA 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 2019. Learn More - Up to $726,525 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!
We serve the entire state of California including: Anaheim, Antioch, Bakersfield, Brentwood, Burbank, Carlsbad, Chula Vista, Corona, Coronado, Downtown San Diego, Encinitas, Escondido, Fallbrook, Fremont, Fresno, Hermosa Beach, Huntington Beach, Irvine, Long Beach, Los Angeles, Marina Del Rey, Menifee, Monterey, Murrieta, Oakland, Oakley, Oceanside, Ontario, Pasadena , Poway, Rancho Cucamonga, Redlands, Riverside, Sacramento, San Bernardino, San Diego, San Francisco, San Jose, San Marcos, San Mateo, Santa Ana, Santa Clarita, Santa Monica, Temecula, 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.
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
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NMLS ID: 3035 - VanDyk Mortgage Corp NMLS ID 220268
Brian Skaar - Loan Originator / Branch Manager
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