I sat down with Gregg Anderson, Senior Loan Consultant (NMLS #385008) at loanDepot here in Medford, and asked him what are the top three questions that he is asked each week:
Q: What kind of Low Down payment programs do you have available?
A: With zero down available for federal VA and USDA loans, a new conventional loan program starting as low as 1% down, and FHA loans at 3.5% down, there are a number of low down payment choices. Certain requirements exist for each loan type including credit score and history, possible income limitations, debt-to-income ratios and other factors.
Q: What are the waiting periods following a short sale, bankruptcy and similar credit events?
A: While the answer pertains to the specific event, and depends on the loan type involved, waiting periods tend to fall within a two to seven year period.
Q: Do you support veterans with federal VA loans?
A: We appreciate each veteran’s service. Typically, my team and I are assisting one or more veterans each month after the federal VA has determined their eligibility.
For specific answers to your home loan questions, Gregg can be reached at (541) 944-2723 or GAnderson@loandepot.com