My home was foreclosed less than 2 years. Now I wan to buy a house with 40% down. Is there any private lender let me borrow 60% loan? with reasonable rate?Thanks by ttran__996_413 from San Jose, California. Mar 9th 2012
There are hard money lenders out there that will lend 60% Loan to Value, but the costs will not be reasonable, and it must be an investment home, not a primary residence.. If you have VA benefits, you can purchase a home after 2 years. Most other lending programs require 3 years. There is also FHA which allows loans within 2 years with extenuating circumstances.. but FHA defines their acceptable circumstances as serious illness or death of a wage earner.... i hope this helps.. WilliamAcres.com
Hard money is the only way to go unless you qualify for a VA loan. Other than that, you'll have to wait at least 3 yrs. for FHA.
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