Can I buy with a 630 credit score, with a short sale a year ago?
What if my credit score is 630. Paid all bills on time and paid off all outstanding debt except my student loan currently in repayment. Could I still qualify for a mortgage with the short sale a year ago? I do not owe anything to the short sale lender. I am planning on buying a lesser home.... by michael_e from , . Jul 22nd 2011
MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions
hi Michael...With a short sale I think seasoning on that for FHA is several yrs but if I do have other funding sources if you have some down payment and rates are competitive. (Mike 703 505 5300) mconvin@stconvininc.com
Gregorio Denny (GVDenny)
#257 ranked lender in California - 380 contributions
Did you miss any payments on your previous mortgage before the sale? If you did a short sale and you didn't miss a single payment on anything for the 12 months prior to the sale and the 12 months after the sale, you may qualify. By anything I mean any credit card, gas card, car payment, etc. If you even have 1 30 day late or one collection then forget it. If you meet the criteria I stated and are in California, contact me through my profile, I may be able to assist you with a new FHA mortgage.
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