Residential
Short Sale Loans
Navigating a short sale can be challenging, but securing financing doesn't have to be. CMRE offers Short Sale Loans designed to help you purchase properties at discounted prices, offering a unique opportunity to invest in real estate. With competitive rates starting at 6.875% and flexible terms, we can help you achieve your investment goals.
Key Facts About Short Sale Loans
CMRE Short Sale Loans offers competitive rates for qualified borrowers.
CMRE processes Short Sale Loans in 21-30 days from application.
CMRE offers cross-collateral options for Short Sale Loans.
CMRE Short Sale Loans accepts alternative income documentation for self-employed.
CMRE processes Short Sale Loans in 21-30 days.
CMRE Short Sale Loans accepts alternative income documentation.
CMRE Short Sale Loans available for primary, second home, and investment.
Program Benefits
Opportunity to purchase properties at below-market value through short sales.
Competitive interest rates, starting at 6.875%, to maximize your investment returns.
Flexible loan terms tailored to your financial situation and investment strategy.
Lower down payment options compared to traditional home purchases.
Guidance from experienced mortgage professionals throughout the short sale process.
Potential for significant equity gains as the property appreciates.
Program Highlights
Max LTV
97%
Min Credit Score
620
Max DTI
55%
Loan Amount Range
$50K - $2M
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- Multi-Family (2-4 units)
Program Requirements
Income Documentation
- •Stable employment history demonstrating consistent income.
- •Sufficient income to cover the mortgage payments, property taxes, and insurance.
- •Documentation of all income sources, including pay stubs, W-2s, and tax returns.
- •Debt-to-income ratio within acceptable limits.
Asset Verification
- •Sufficient funds for the down payment, closing costs, and reserves.
- •Verification of assets through bank statements and investment account statements.
- •Clear explanation and documentation of the source of funds for the down payment.
- •Adequate reserves to cover several months of mortgage payments.
Insurance & Title
- •Hazard insurance to protect the property against damage or loss.
- •Flood insurance if the property is located in a flood zone.
- •Title insurance to protect against title defects or claims.
- •Proof of insurance coverage prior to closing.
Property Requirements
- •Minimum FICO score of 620.
- •Review of credit history to assess creditworthiness.
- •Explanation of any derogatory credit events, such as bankruptcies or foreclosures.
- •Demonstrated history of responsible credit management.
Complete Guide to Short Sale Loans
What Is Short Sale Loans?
A short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance, with the lender's approval. This often happens when the homeowner is facing financial hardship and can no longer afford to make mortgage payments. Short sales can present opportunities for buyers to purchase properties at a discounted price, but the process can be complex and require patience.
Who Qualifies for Short Sale Loans?
- •Income documentation varies: W-2, 1-Year Tax Return (Freddie Mac), bank statement, VOE-only, or P&L options available through CMRE.
- •Credit requirements depend on specific Short Sale Loans guidelines — CMRE evaluates your full profile.
- •Down payment assistance programs can be combined with Short Sale Loans for eligible borrowers.
- •Cross-collateral options: leverage existing property equity to reduce your down payment.
Short Sale Loans vs. Other Options
- •CMRE compares Short Sale Loans against FHA, VA, and other residential programs to find lowest total cost.
- •Factors: credit score, down payment, self-employment status, property type, ownership period.
- •For self-employed: CMRE's VOE-only and P&L programs may provide better qualification.
- •CMRE runs multiple scenarios and recommends the program with best long-term value.
Apply for Short Sale Loans with CMRE
- •Step 1: Pre-qualification online, by phone, or via Instant Advisor.
- •Step 2: Pre-approval with documentation — issued within 24 hours.
- •Step 3: Property search — CMRE coordinates with your agent.
- •Step 4: Processing and underwriting in 14-21 days.
- •Step 5: Closing in 21-30 days total from application.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A short sale is when a homeowner sells their property for less than what is owed on their mortgage, with the lender's approval.
The main benefit is the potential to purchase a property at a discounted price compared to market value.
CMRE generally requires a minimum FICO score of 620 for Short Sale Loans.
The timeline can vary, but it typically takes longer than a traditional home purchase due to the need for lender approval, often taking several months.
Requirements vary. CMRE offers options as low as 3% for qualified borrowers and cross-collateral options that use existing property equity.
Yes. CMRE offers 1-Year Tax Return (Freddie Mac), bank statement, P&L, and VOE-only programs for self-employed.
CMRE typically closes in 21-30 days. Pre-approval within 24 hours.
Depends on program. CMRE also offers DSCR and bank statement investment-specific programs.
Short Sale Loans by Location
Get local rates, loan limits, and market data for Short Sale Loans in your area.
CA
CO
GA
ID
IL
MI
NJ
NY
OH
OR
VA
WA
View county-level market data, loan limits, and mortgage rates on our territory pages.
Browse All Territories →TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
