Can an Arizona Mortgage Broker Help Me Buy a Home After a Short Sale?
Yes! Even if you have a bad credit history,
you are not completely exempt from the home buying process. Don’t give up hope!
Find yourself an Arizona Mortgage Broker Such as Setabay Home Mortgage and they can help you through this process. You would be absolutely
astounded at the sheer number of people who are able to purchase a home not
long after a short sale.
If you did short sale your home, you chose a
better alternative than foreclosure. This shows responsibility and accountability
on your part. Though short sales do damage your credit for a time, they aren't long-lasting. We all get in over our heads sometimes, or sometimes we have unexpected expenses that arise forcing us to downsize. Whatever the case, if you've done a short sale on your home and your looking to buy again, an Arizona mortgage broker can help you
out.
How Can an Arizona Mortgage Broker Help Me After a Short Sale?
Remember that the broker is on your side.
They’re not trying to pressure you into anything and they truly want to help
you get the loan. Your Arizona Mortgage Broker will need the following
documents from you (and probably more):
-Pay stubs
-Bank account numbers and current balances
-All debt information
-Tax information from the last two years
-Identification
They will likely need more information than
that, but there is a good start. The broker will look at your info and
determine a debt to income ratio which will help you get pre-approved for a
loan. Once you have been pre-approved and found a home, an Arizona Mortgage Broker
can submit your loan application to a lender and it will undergo an
underwriting process. Your broker will represent you in the best way possible
so that you can get approved to purchase a home.
Can an Arizona Mortgage Broker Help Me Buy a Home After Bankruptcy?
Sure! Why not? A bad financial past or credit
history does not have to scar you for life. If you’re ready to move on with
life and purchase a new home after bankruptcy, start by contacting an Arizona mortgage broker. The process
may be confusing, but they can help you through it.
Different types of loans have different
guidelines on how long you have to wait after applying for a home loan after
filing for bankruptcy. These loans—FHA, Conventional, Rural Housing, etc.—are
all different and you will need to have your Arizona mortgage broker help you determine which one you will be
able to apply for.
When Can I Contact an Arizona Mortgage Broker After Filing for Bankruptcy?
You can contact an Arizona mortgage broker anytime. But if you’re serious about buying a home, you’ll need to wait about two years from the discharge date on your paperwork before any lender will approve you for one. Be very very careful after filing for bankruptcy if you plan to buy a home again after the waiting period. Do not miss a payment and make all your payments on time. This is a time of repair for your credit and it will take a lot of work on your part.You don’t always have to wait two years. If you’re really antsy to buy a home, an Arizona mortgage broker can probably help you get the job done. However, fees for underwriting are going to be quite high and you probably don’t even want to know about the interest rates. It’s best to wait the two years most of the time.
Be sure to pay off any tax liens, non-medical debts, etc. Don’t be racking up a bunch of credit card bills and expect to be approved for a home loan! It just doesn't work that way. For more information on how an Setabay Home Loan a Arizona Mortgage Broker could help you out, visit www.setabay.com.
Broker/RI/CEO/MLO Setabay Home Mortgage
Tel: (623) 582-4444 | Fax: (888) 279-6917 www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027
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