Posted on: 28th Jan, 2011 08:59 am
Hi I did a short sale on my home 6 months ago. I never had any late payments. My credit score when from 780 to 680.
I was wondering when I can buy a home again. I have great income, but don't have enough in saving to put 20% down.
Thanks in Advance!!
I was wondering when I can buy a home again. I have great income, but don't have enough in saving to put 20% down.
Thanks in Advance!!
3 years from the date your short sale was final.
Generally, FHA requires a minimum of three years after a short sale before you will be eligible for a new FHA loan.
However, if you were able to keep up your payments all the way through the short sale, you may be eligible now for a new FHA loan.
Not all lenders offer this option, so you'll have to do some checking.
Good luck!
However, if you were able to keep up your payments all the way through the short sale, you may be eligible now for a new FHA loan.
Not all lenders offer this option, so you'll have to do some checking.
Good luck!
