VA FAQ #18 - How soon after a Short Sale can I qualify for a VA Loan?
VA Loans can be made as soon as 1 day out of short sale, or 2 years depending on circumstances and the type of loan that was short sold. If the prior loan was a VA Loan, the VA will most likely make a charge against your available entitlement, reducing the amount of guarantee available to Vets buying or refinancing another home.
To qualify for a new VA Loan shortly after a Short Sale, the prior loan must be a Conventional loan, and no late payments on that mortgage prior to the sale. If you did have late payments leading up to the short sale, we are still able to help many under 2 years. it can be case by case, so please don't hesitate to give us a call to see how it effects your qualications for a new VA Loan.
This is part 18 of our VA FAQ series for Frequently Asked VA Loan Questions. FAQ = Frequently Asked Questions, and when it comes to VA & VA Jumbo Loans, we get plenty of questions and we have the answers for you.
We have been making VA Loans since 1987 and are a Direct Lender offering both VA Loans and VA Jumbo Loans for the Purchase or Refinance of your Primary Home. Please give us a call to get help with your VA Loan or VA Jumbo Loan questions, and see if you qualify for a VA Home Mortgage - 866-900-2342 toll free direct, or contact us online at VanDykFunding.com.
We offer VA Loans, VA Jumbo Loans (aka VA High Balance Loans) for purchase, refinance and VA IRRRL streamline thoughout our service area: California, Colorado, Georgia, Indiana, Massachusetts, Michigan, Mississippi, Tennessee, Texas, Virginia, Washington and Wyoming. Give us a call to get started today - 760-752-4480