Millions of Americans have went through the foreclosure process since 2005 and many of these same people who went through foreclosure are now looking to buy a home again.
Are you looking to buy again after foreclosure?
Here are just a few things that you will want to consider:
- Not all loan programs have the same requirements for buying again after foreclosure
- You will want to have re-established your credit and made your payments on time for your other accounts before applying for a loan of any kind
- Be ready to provide additional documentation for the underwriters when getting a loan after foreclosure
Buying Again After Foreclosure: Which Loan Program Is Best?
When shopping for a loan after foreclosure, popular choices include FHA loans, VA loans (if you have served in the military) and USDA loans (only available on qualifying properties) and Conventional loans.
Thinking about getting a jumbo loan after a foreclosure?
It isn’t that it isn’t possible to get a jumbo loan after a foreclosure, it just isn’t very popular — well, not yet at least.
- Learn more about getting an FHA loan after foreclosure
- Learn more about getting a VA loan after foreclosure
- Learn more about getting a USDA loan after foreclosure
- Learn more about getting a Conventional loan after foreclosure
Buying Again After Foreclosure: Millions of Buyers
The good news is that if you were one of the millions of homeowners who went through foreclosure, then you are not alone when it comes to wanting to buy a home again. Buying a home after foreclosure is going to be one of the hottest segments of home buyers in 2013 – 2016 as the waiting period ends for many people who went through foreclosure in prior years. If you are one of the people who are in this situation, be excited to know that many lenders are finding creative solutions to help people qualify for buying a home again after foreclosure because there are so many people who were in this situation.
Mortgage Lenders Helping Buyers After Foreclosures
There are many lenders who are coming up with creative portfolio products that are different the standard waiting periods of FHA, VA or Conventional loan products. The best way to learn about these programs that are available is to submit your information below and we will work hard to match you up with a lender who specializes in helping people who are in this situation. Submitting your information is easy, free and one of our lenders who specializes in your situation will be in touch with you very quickly.
Get started and submit your information today!