Ricky Khamis's Blog

BK0013635

How Soon Can You Buy Your Next Home BK, SS, DIL or Foreclosure

This should help you with your clients, my advice to you is get your clients in front of me no matter when their issue or what their issue was.  That way I can set them on a path of follow up so when the time does arise we both earned their business.

Federal Housing Administration (FHA)

  • Foreclosure: 3 years
  • Deed-in-Lieu: 3 years
  • Short Sale: 3 years (Note: A Short Sale with NO late payments requires NO Seasoning!)
  • Bankruptcy: 2 years

Conventional Conforming (FNMA/FHLMC)

  • Foreclosure: 7 years
  • Deed-in-Lieu: 2 years with max LTV of 80%; 4 years with a max LTV of 90%; 7 years for LTVs exceeding 90% 
  • Short Sale: 2 years with max LTV of 80%; 4 years with a max LTV of 90%; 7 years for LTVs exceeding 90% 
  • Bankruptcy: 4 years

Veterans Administration (VA)

  • Foreclosure: 2 years
  • Deed-in-Lieu: 2 years
  • Bankruptcy: 2 years

Conventional Non-Conforming (JUMBO)

  • Foreclosure: 7 years
  • Deed-in-Lieu: 4 years
  • Short Sale: 4 years
  • Bankruptcy: 4 years
  • Jumbo, Short Sale and Deed-in-Lieu > 4 years max 90% Hu/C/Tu primary residence, pur, r/t only

How Soon Can You Buy After Credit Issues

 

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Ricky Khamis
NMLS 173141 | LO-0911814 | CA-DOC173141
Branch Manager | Corporate Office
Arizona and California CE Instructor

Email: Rick@amerifirst.us

480-344-1900 office
602-758-7425 mobile
480-339-1615 fax

AMERIFIRST FINANCIAL, INC.
NMLS 145368 

1550 E. McKellips Rd, Suite 117
Mesa, AZ 85203
480-344-1900
1-866-276-12974
BK0013635

 

Amerifirst Financial Disclosure-  The opinions expressed here are the personal opinions of Ricky Khamis.  Content published here is not read or approved by Amerifirst Financial before it is posted and does not necessarily  represent the views and opinions of Amerifirst Financial.

Comment balloon 1 commentRicky Khamis • April 14 2014 03:52PM
How Soon Can You Buy Your Next Home BK, SS, DIL or Foreclosure
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