YES we can get you a loan to purchase real estate right after a short sale or foreclosure. This is offered through a private money financial institution that we have a special relationship with.
We are actively helping people with a recent housing event get back into the housing market.
Private money is a commonly used term in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for real estate, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines. There are higher risks associated with private lending for both the lender and borrowers. There is traditionally less “red tape” and regulation
HERE ARE THE HIGHLIGHTS OF THIS PROGRAM
- 15 Year or 30 Year Fixed Loans
- Loan to Value ratios up to 80% of appraised value
- Second homes are OKAY
- NO SEASONING on Chapter 7 or Chapter 13 BK
- NO SEASONING on foreclosure completed event
- CASH OUT IS ALLOWED up to $100,000 to the max program LTV
- NO SEASONING AFTER SHORT SALE
- Single Family, Condos, Townhomes okay
- RESERVES NEEDED: 3 months minimum
- SELLER CONCESSIONS ALLOWED up to 6%
Rules and guidelines change periodically. If you think you may qualify and you would like to get more details on how this program works…