Are you perfect? I know I’m not. We’ve all had our share of issues along the road of life haven’t we? Our finances and credit situation is no exception to this, especially in the wake of our economy crunch the last several years. So in a world where bankruptcies, foreclosures and short sales have been a part of our lives is there any hope for us to be able and buy a home?

Yes.

Recently Caliber Home Loans has made a program available for those of us who have had these bumps in the road. This Loan is called the Fresh Start program. The program will lend up to 80% of the value of a home if you have a 580 or better credit score. This means you can buy a home within a year of bankruptcy, foreclosure or short sale depending on your situation. This is the loan option a lot people have been waiting for who want to buy now but their circumstances haven’t allowed them to do so.

So what if you don’t have 20% down and only have the ability to put a small or no down payment on a home? What can you do with these issues in your past? A lot of us have heard that it will be an eternity before we can even look a banker in the eye and ask for a loan. While there is some waiting required with the traditional financing routes, it may not be as long as you think. If you had a bankruptcy, foreclosure or short sale related to circumstances outside of your control (job loss, medical issues, death of a wage earner etc.) You may only need to wait 3 years after a foreclosure/short sale to purchase a home. If you had a bankruptcy you may only need to 2 years before you can buy. There is hope!

If you have not had these specific events happen to you but your credit situation is still a little murky at the moment you can make strides to improve your credit fairly quickly. With help and guidance from myself I can walk you through the steps you need to prepare for home ownership. Please contact me to discuss your particular situation and see how I can make your dream a reality. I can be reached at casey.porter@caliberhomeloans.com or directly at 360-510-2840.