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are VA qualifications concerning having a short sale

the same as an FHA loan? by partne_426_815 from Atlanta, Georgia. Nov 24th 2012 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

VA is 2 years, FHA is 3 years.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Nov 24th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

VA only requires a two year wait period and the re-establishment of credit and adequate eligibility. It can be more complicated if the loan on the property short-sold was a VA loan. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Nov 25th 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

at least 2 yrs from when the house was totally out of your name linda yourloanpartnerforlife@live.com

Nov 24th 2012
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Todd Tholl (toddtholl@leader1.com)
#4 ranked lender in Iowa - 239 contributions

VA requires at least 2 years from finalization of short sale

Nov 24th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

If it has been 2 years I'd be happy to help you. Make sure you also have re-established credit and have a decent (640 or higher is much easier to get approved). Also, if the last loan was also VA make sure you have sufficient entitlement left to buy another home using VA financing.

Nov 24th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

PS roughly the same as FHA, but potentially a bit less restrictive - FHA is much more difficult if less than 3 years.

Nov 24th 2012
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