We (wife and I) purchased a lot several months ago, it's owned free and clear, now we are looking to get a loan to build. Are there any chances with high income and 660 credit score (lost 3 properties durning bubble burst)

Although there are lending programs that allow for construction loans, not every lender offers them, in fact, most dont.. so it's best you latch onto the first company that say they can do it.. Lending programs vary, but in general, FHA is 3 years from the date of the last foreclosure, and conventional is 7 years.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com