You've taken control of your financial situation after a difficult short sale. Now, you're ready to own again, and there's a clear path forward. At National Mortgage Home Loans, we understand your journey and are here to guide you through the process of buying a home after a short sale.
”At NMHL, we work with borrowers in exactly this situation every day. We understand the uncertainty, the frustration, and the worry that comes with navigating a mortgage during a significant life event. You are not alone, and your situation does not have to be a barrier to homeownership.
Our licensed loan officers specialize in finding the right path forward for borrowers in complex circumstances. Whether your situation requires specialized documentation, alternative qualification methods, or simply a lender who takes the time to understand your full financial picture, we are here to help you move forward with confidence and clarity.
Your Path Forward
Proven Solutions for Your Situation
FHA Loan Solution for Short Sale Borrowers
If you were current on your mortgage payments when the short sale occurred, you may be eligible for an FHA loan with no waiting period. This program offers more lenient credit requirements, making it easier to qualify.
Conventional Loan Options After Short Sale
Conventional loans are available after a 4-year waiting period, or 2 years with extenuating circumstances and a larger down payment. This path offers competitive interest rates and better long-term mortgage terms.
Non-QM Loan for Immediate Home Purchase
For borrowers who need to purchase a home sooner, Non-QM loans offer flexible underwriting and a shorter waiting period. This option is ideal for those with unique financial situations or who require a faster mortgage approval process.
VA Loan Benefits for Eligible Veterans
If you're a veteran or active-duty military, VA loans offer favorable terms, including no down payment requirements and competitive interest rates. VA loans also have more lenient credit score requirements, making it easier to qualify after a short sale.
Personalized Guidance for Your Situation
No two mortgage journeys are alike. Our experienced advisors take the time to understand your unique circumstances and find the best path forward.
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Understanding Your Mortgage Options After a Short Sale
After a short sale, it's natural to feel uncertain about your mortgage options. However, with the right guidance, you can navigate the process and find a loan that suits your needs. At National Mortgage Home Loans, we offer a range of mortgage programs designed to help borrowers recover from financial hardship.
Our loan officers will work with you to determine the best loan option based on your credit history, income, and other factors. We offer FHA loans, conventional loans, and Non-QM loans, each with its own benefits and requirements.
Don't let a short sale define your mortgage options. Contact NMHL today to explore your loan possibilities.
FHA Loans: A Viable Option After a Short Sale
FHA loans are a popular choice for borrowers who have experienced a short sale. With more lenient credit score requirements and lower down payment options, FHA loans can be an attractive option for those looking to purchase a new home.
- FHA loans may have no waiting period if you were current on payments during the short sale
- Lower credit score requirements make it easier to qualify
- 3.5% minimum down payment
NMHL's loan officers can help you determine if an FHA loan is the right choice for your situation.
Conventional Loans: A Path to Long-Term Homeownership
Conventional loans offer competitive interest rates and better long-term mortgage terms, making them an attractive option for borrowers who have recovered from financial hardship. While conventional loans typically require a 4-year waiting period after a short sale, NMHL's loan officers can help you explore your options and find the best loan for your situation.
With a larger down payment and extenuating circumstances, you may be eligible for a conventional loan in as little as 2 years.
Contact NMHL to discuss your conventional loan options and determine the best path forward.
Non-QM Loans: Flexible Underwriting for Complex Financial Situations
For borrowers with unique financial situations or those who require a faster mortgage approval process, Non-QM loans offer flexible underwriting and a shorter waiting period. NMHL's loan officers will work with you to determine the best Non-QM loan option based on your individual circumstances.
- 1-year or less waiting period
- Flexible income verification
- Case-by-case review for complex financial situations
NMHL's Non-QM loan options can provide a pathway to homeownership for borrowers with complex financial situations.
Next Steps: Getting Pre-Approved for Your Mortgage
Now that you've explored your mortgage options after a short sale, it's time to take the next step. Contact NMHL to get pre-approved for your mortgage and begin your journey to homeownership.
Our loan officers will guide you through the pre-approval process, reviewing your credit history, income, and other factors to determine the best loan options for you.
Don't wait – contact NMHL today to start your mortgage pre-approval process.
Frequently Asked Questions
The waiting period varies depending on the loan type. FHA loans may have no waiting period if you were current on payments during the short sale. Conventional loans typically require a 4-year wait, while Non-QM loans can be available in as little as 1 year. Consult with an NMHL loan officer to determine the best option for your situation.
A short sale can impact your credit score, but it's generally viewed more favorably by lenders than a foreclosure. With NMHL's specialized mortgage programs, you can qualify for a new mortgage with a lower credit score requirement and more flexible underwriting.
Yes, FHA loans are available after a short sale. If you were current on your mortgage payments during the short sale, you may be eligible with no waiting period. FHA loans also offer lower down payment requirements and more lenient credit score requirements, making it easier to qualify.
To improve your credit score, focus on making on-time payments, reducing debt, and monitoring your credit report. NMHL's loan officers can also provide guidance on credit repair strategies and recommend mortgage programs that accommodate recovering credit.
At NMHL, we specialize in helping borrowers with complex financial situations, including those who have experienced a short sale. Our loan officers offer personalized guidance, access to multiple loan programs, and a streamlined pre-approval process to help you achieve your homeownership goals.
Yes, you can get pre-approved for a mortgage after a short sale. NMHL's pre-approval process is designed to accommodate borrowers with unique financial situations. Our loan officers will review your credit history, income, and other factors to determine the best loan options for you.