Buying a home after a short sale in Arizona
Qualifying for a USDA home loan after a short sale is not very easy.
However, Academy Mortgage in Mesa, Arizona will approve a home buyer if they can meet the criteria when applying for a USDA loan with our Academy Office in Mesa, Arizona.
Most Arizona families who have had to make the hard choice or are forced to short sale their home, are often left wondering if they can or when will they be able to buy another Arizona home in the future. Most lenders have taken a standard stance that these families will need to wait for a period of 3 years before applying for a home loan. However, Academy Mortgage will approve certain USDA home buyers that can meet the following criteria:
- Credit Score of 660 or higher
- No late payments for the past 12 months
- If you have recently sold your home and have no late payments, it is possible to qualify immediately
- Obtain a GUS Approval (This is an automated underwriting approval for a USDA Home Loan).