Buying Right After Short Sale

It’s true, one can typically not qualify for a mortgage loan for a period of years after completing a short sale. However, there are exceptions to that rule and as your Phoenix Arizona Mortgage Lender, I will never leave any stone un-turned while searching to find what options my clients have available to them. One of the best stories that I have had the good fortune to be a part of involves an FHA client we recently closed a loan for. This family needed to complete a short sale on their current Arizona East Valley home in order to make a much-needed change in their life. They came to me with the goal of short selling their existing Gilbert Arizona home and then being able to purchase a new home again in Gilbert Arizona right away. A tall task in this market but one that was absolutely feasible.

As a direct FHA Mortgage Lender, my team has the ability to take a deeper look into a scenario such as this where my valued clients were looking to buy immediately after an Arizona short sale. In addition to needing to know if they qualified, we needed to find out prior to placing an offer on a new house. This way, they could avoid risking wasting non-refundable money on inspections and appraisals. Instead, they could move forward in confidence knowing they were fully approved for a new Arizona FHA mortgage. We completed their FHA home loan approval all before they completed their short sale.

A Short Sale Success Story in the Desert

The best part of this story is the ending. These clients were able to purchase a home 12.37 miles from the Gilbert Arizona home they short sold 2 months after they completed their short sale. Yes, they were able to obtain an FHA mortgage approval for their new Phoenix area home purchase. What was even better was that they were able to make a much need adjustment in their life and we were lucky enough to be a part of it.

Every case where a buyer is looking to buy after a short sale is evaluated on an individual basis.   Whether an Arizona buyer is looking to use an FHA, VA, Conventional, USDA or Jumbo loan their application needs to be evaluated on a case by case basis so we can determine what their mortgage options are.

Please let me know if you are in a similar situation.  My team and I will work to find any mortgage option that might be available to you after a short sale.  Some mortgage lenders do not want to work hard enough to get loans like this through.  As your Phoenix area mortgage lender I will do everything possible to help you qualify for a new mortgage.

Call us today or APPLY NOW.

By Jeremy House

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