Home Mortgage Loans after Bankruptcy, Short Sale, Foreclosure

24 months out of Foreclosure, Short Sale, Bankruptcy

Primary Residence Purchase

  • 25% down with 660 minimum score
  • 30% down with 640 minimum score

Second (vacation) Home or Investment (rental property) Purchase

  • 25% down with 680 minimum score
  • 30% down with 640 minimum score

Additional details:

  • 12-month good pay rental or mortgage history is required, meaning no 30-day lates.
  • Gift funds are allowed for funds to close. A 5% contribution from Applicant’s own funds is required.
  • Gifts must be from immediately family members.
  • Non-Occupant Co-Borrowers must be immediate family members.

DTI Ratio – Standard max is 43%, Primary Residence – Up to 50% allowed with exception

Reserves – 6 months of the new payment

One-Day out of Foreclosure, Short Sale, Bankruptcy – 25% down with a 600 minimum score

Typical Waiting Periods for FHA and Conventional

FHA – Max loan amount $345,000. 3.5% down payment

  • 2 years after Ch. 7 Bankruptcy (must have re‐established some credit after BK)
  • Financing available for borrower in the middle of a Ch. 13 BK (must have court approval and most recent 12 months installment payments must be on time)
  • 3 years after Foreclosure and 3 years after Short Sale (if there were any 30 day mortgage lates prior to short sale)

Standard Conventional Financing – Max loan amount $510,400. 3% min down payment

    • 4 years after Ch. 7 Bankruptcy
    • 2 years after Ch.13 Bankruptcy discharge (4yrs after dismissal)
    • 4 years after Short Sale
    • 7 years after Foreclosure
  • The most efficient way to contact me is via the form below:

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Dan Sherbondy
Senior Loan Officer
All Western Mortgage
(established in 1981)
“Dan The Loan Man”
702-326-7469 talk/text every day

Equal Housing Opportunity

Dan’s Licensing: NV MLD 45649, CA-DBO313289, CO-100516554  NMLS 313289
All Western Mortgage, 8345 W Sunset Rd Ste 380. Las Vegas, NV 89113
702-326-7469- TALK OR TEXT | | 702.369.0905 – Switchboard (Ask for Dan)

Company NMLS# 14210, NV Division of Mortgage Lending Lic# 204, CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate.