Use VA Loan Loan After A Foreclosure

VA Mortgage After A Foreclosure

Military Veterans have access to arguably the best mortgage program on the market.  Of course, that is if you think being able to put $0 down, not having to pay monthly mortgage insurance and getting a competitive Arizona Mortgage rate a plus.  On top of all that, VA allows a qualified veteran to use a Phoenix VA mortgage to buy a home very shortly after a foreclosure!

While other types of mortgage products that are available today require a buyer wait 3 years or more after a foreclosure, VA only requires a veteran wait 2 years after a foreclosure before they can qualify for a VA home loan.  This is just another way VA provides our nation’s heroes with the best of the best in mortgage options.  Typically, VA also allows veterans to buy only 2 years after a short sale or sooner.  Check this out for more info on VA mortgages after a short sale – Buying after a short sale.

To take it a step further, qualified military veterans may also be able to use their VA home loan benefits AGAIN even if they foreclosed on a home that had a VA loan attached to it with something VA calls Bonus Entitlement. Read this article to learn more about Bonus Entitlement.

Call or email my team and I today to learn more about your VA mortgage options.

By Jeremy House
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