May 1st, 2021 11:24 AM by Salim (Sam) Kader MLO# 130505
As rents rise and low mortgage rates and the economy gradually improves, those who lost their home in recent years will be able to re-enter the housing market. Prepare yourself first and when you are ready - here's the revised waiting period depending on your circumstances:Conventional underwriting guidelines under FNMA.
Government underwriting guidelines under FHA:
Government underwriting guidelines under VA:
According to Transunion 1.5 million "Credit Weakened" Americans were forced out of the housing market by the housing crash will flood the market in the next two years. They are more motivated because they have done it before. As long as their FICO score is 620, had no unpaid judgments or pending liens and had passed the waiting period above. Contact me for your Free Consultation.