To obtain
conventional finance after a negative credit event, the borrower must wait between 2 and 5 years depending on the down payment size and the specific issue.
Not exact matches
After all, there is no shortage of
conventional (and cheaper) real estate
financing for legitimate developers and projects.
After proper introduction of Islamic banking and
finance and some major difference it has to
conventional banking, move towards the main passage.
After the housing bubble burst,
conventional lenders stopped offering low - and zero - down - payment
financing and upped their requirements for credit scores.
The
Conventional loan is one of the most popular loans for home purchase and refinance, and also has some of the strictest guidelines for obtaining mortgage
financing after a negative credit event.
If you wish to obtain mortgage
financing on a
conventional loan
after home foreclosure, you must wait seven to eight years
after the foreclosure completion date.
There's often a four - year wait
after a short sale before buyers can secure
conventional financing.
For
conventional financing, basic guidelines at this time show a waiting period of four years
after a Chapter 7 or 11 Bankruptcy, two years with extenuating circumstances;
after a Chapter 13 Bankruptcy, it would be two years from the Discharge date, four from Dismissal date (two from Dismissal with justifying circumstances).
«Our 1 percent down payment program is perfect for clients who credit - qualify for
conventional financing, but prefer to keep some additional cash in their pocket
after closing for any unexpected expenses that might arise,» says Herring.