Sentences with phrase «conventional financing after»
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.
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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.