FHA Loan Requirements After Foreclosure in California is a post from: FHA,VA and Conventional Home Loans in all 50 States

FHA loan requirements only require a THREE year wait after a foreclosure to qualify to buy a home again in California.  This is a much shorter wait than conventional financing which requires a SEVEN year wait.

FHA loan guidelines like to see that you have a FHA loan credit score of 640 or above following a foreclosure in your past.  Also, FHA guidelines like to see that you have re-established your credit following a bankruptcy.  This means that you should have some open and active lines of credit that you have been paying on with out any lates for the last few years after your foreclosure.  Be VERY careful about not having ANY late payment or derogatory items on your credit following a foreclosure.

I hope this gives you hope that you can get back into the California market with these record low interest rates and low home prices following a foreclosure in your past.  Please don’t hesitate to call me at 858-922-7899 or email me at homeloan8@gmail.com if you have any questions.

Some other benefits of FHA home loans in California:

• FHA loan limits in many areas such as San Francisco, San Jose, Oakland, Los Angeles, Orange County, Anaheim, Santa Ana are $625,000.
• FHA loan credit score does not have to be perfect, a 620 score can still get your the best FHA loan interest rates
• FHA loan down payment is only 3.5% and this can be a gift from a relative
• FHA loan requirements allow for a non-occupant co-borrower.

Related posts:

1. Requirements To Get FHA Loan After Foreclosure
2. FHA Loan Requirements After Bankruptcy in California
3. VA Loan After Foreclosure in California

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