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Nikki Langendorf Sunnyvale Real Estate Expert         408 896 4221

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Buying a Home After Foreclosure

You can still buy a home after a foreclosure

Posted on November 13, 2012 by Nikki.

If you were an unfortunate victim of some bad circumstances and have a foreclosure on your record, don’t give up on owning a house again, perhaps sooner than you thought. Even Sunnyvale homes may not be out of consideration. If you were part of the 2009 housing bust, then the Federal Housing Administration (FHA) might provide you a path to buy a new home today!

The FHA approves home loans as early as three years after foreclosure. Of course, you must otherwise be a great candidate for a mortgage loan. You must have a good history of credit in the past three years. You must have a good down payment. You must the ability to make future payments. Etc. In other words, your record must be stellar besides the one foreclosure.

On the other hand, be prepared for a few bumps along the road. First, not every lender handles FHA loans, so you might have to shop around a little more. Second, FHA loans can be difficult to close, so it’s possible that a buyer might favor other offers that don’t involve an FHA loan. Still, that isn’t a steep price to pay for being able to obtain a new home loan only three years after a foreclosure. At the very minimum, if you had a foreclosure back in 2009, it can be a good time to at least begin house hunting again. You should first review your situation with a trusted lender and determine if you are a good candidate for an FHA loan. If you are, figure out a price range, get a pre-approval letter, and start working with a good real estate agent today!

If you have any questions about FHA loans or Sunnyvale real estate in general, please contact me, Nikki Langendorf. I can be reached at 1-408-896-4221 or

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