Purchase and Short Sale Loans - Herzer Financial

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Purchase After a Foreclosure or Short Sale

Get a loan when you need it the most.

Herzer Financial Services, Inc. will consider the financing of an owner-occupied home purchase after a recent borrower foreclosure or short sale on a case-by-case basis. While we will not be so strict in considering current FICO scores, we want to see that the borrower incurred a one-time event and/or incurred financial difficulty within a recent timeframe. Recent bankruptcies will be considered within this scenario, however a borrower with a long history of credit abuse will most likely not qualify.
Seller carrybacks, 2nd TD, will be considered in a purchase. The term of the seller carryback needs to be at least 7 years. In the case of the seller carryback, the minimum down payment from the borrower is 20%.

We want to see the same borrower profile in the case of a foreclosure bailout. Owner-occupied homes are
underwritten per section 32 guidelines.

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Loan Amount
$75,000 - $1,500,000
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Term of Loan
7 years
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Interest Rate
10 - 11% (amortized over 30 years, due in 7 years)
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Points
3 - 4
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Prepayment Penalty
None
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LTV
60%

Get your loan today.

If you are interested in submitting a loan application, please complete all the documents below (PDF) in their entirety and submit via email or fax (650-363-8330). Once received, we will contact you immediately to discuss your loan scenario and provide you with a list of required documentation.
Real Estate Broker — California Dept. of Real Estate
License #00417082

Loans are made or arranged pursuant to a California Finance Lender's License #6054500

Nationwide Mortgage Licensing System #314253
Broker Submission Documentation
Get the required paperwork and details if you are a broker and wish to work with us.

Get Details on Our Loans
We offer loans for a range of services or products including foreclosure, refinances, and construction.

Have a question?
Give us a call at
(650) 363-8003,
email us, or fax us: (650) 363-8330

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