FHA short sale waiting period 2017

FHA short sale waiting period 2017


FHA requires a minimum of three years from the date of sale. FHA guidelines requires three year past from the date of short sale of the property. Documentation of short sale date will be required.

Borrowers with a prior bankruptcy, foreclosure, deed-in-lieu, or short sale may be eligible for an FHA insured loan if the bankruptcy, foreclosure, deed-in-lieu, short sale was the result of a documented extenuating circumstance.

Borrowers may be eligible for an FHA insured loan on a purchase transaction after 12 months from the completion, discharge, trustee's sale if the borrower meets the requirements for extenuating circumstances Economic Event.

FHA announced a policy change to address risk and strengthen finances. FHA has changed the minimum credit score for new borrowers:

  • FHA loan requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment or 97.75% LTV rate and term refinance
  • FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10% or 90% LTV rate and term refinance
  • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well

FHA does not require collection accounts to be paid off as a condition of mortgage approval. However, FHA does recognize that collection efforts by the creditor for unpaid collections could affect the borrower’s ability to repay the mortgage.

If evidence of a payment arrangement is not available, the lender must calculate the monthly payment using 5% of the outstanding balance of each collection, and include the monthly payment in the borrower’s debt-to-income ratio.

FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan

FHA loan requirements - ‎FHA loan limits - ‎FHA loans - ‎FHA Streamline

Apply Now!

Call us 888.958.5382


Mortgage World Home Loans is an online mortgage company specializing in FHA loans for first time home buyers. To buy a home with 3.5% down payment and a minimum credit score of 580 using an FHA loan, apply now.


We look forward to working with you.

How to Qualify for FHA Down Payment Assistance?

Apply Now

Call us 800-516-9166


www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.


We look forward to working with you.

KEYWORDS: FHA short sale waiting period 2017 Florida,

Image 12

What's the minimum credit score needed to buy a house or refinance in Florida?

Apply Now!

Call 888.958.5382

E-mail Us!

FHA loans

FHA loans require a minimum 500 credit score to buy a house or refinance

500 credit score

VA loans

VA loans require a minimum 500 credit score to buy a house or refinance

500 credit score

Fannie Mae

Fannie Mae loans require a minimum 620 credit score to buy a house or refinance

620 credit score

USDA loans

USDA loans require a minimum 580 credit score to buy a houseor refinance

580 credit score

HOMEPATH

HomePath loans require a minimum 620 credit score to buy a house

620 credit score

HARP refinance

HARP loans require no minimum credit score torefinance

No minimum credit score

Freddie Mac

Freddie Mac loans require a minimum 620 credit score to buy a house or refinance

620 credit score

Want to know if you qualify for an FHA loan? Get pre-approved for an FHA loan online.

Call Now, Our Staff is Available!

888.958.5382

Apply Now!

Apply Now!

Call 800.516.9166

Email Us!


Recent Articles

  1. FHA Down Payment Assistance 2023

    Jun 09, 23 12:47 PM

    FHA DOWN PAYMENT ASSISTANCE
    Navigate the path to homeownership with confidence. Discover the FHA down payment assistance program and grants available for first-time home buyers.

    Read More

  2. Credit Score Requirements for FHA 2023

    Jun 06, 23 09:18 AM

    FHA-LOAN-3
    Credit Score Requirements for FHA 2023. For individuals applying for an FHA loan, it's important to note that there is a minimum FICO score requirement of 500.

    Read More

  3. Best Mortgage Rates in New Jersey.

    Jun 01, 23 09:40 AM

    best mortgage rates
    Best Mortgage Rates in New Jersey. See if you qualify for the lowest mortgage rates available!

    Read More