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How long do I have to wait to buy another home after a short sale?

I applied for a home loan and the lender told me that I would have to wait 2 years after my short sale to purchase another home. He did say I could apply for a conventional loan which required a huge down payment. I wanted to know was this true. It will be two years in March of 2014.
  • December 16 2013 - La Morada
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Answers (2)

If you were current on your mortgage (meaning no lates) at the time of the sale you can buy FHA right away without a wait. If you were behind you'll need to wait 3 years.

  • December 16 2013
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To apply for a home loan after a shortsale you will need to wait 3 years.  
  • December 16 2013
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