Posted on: 13th Jul, 2010 08:55 am
We had to short sale our house in June of last year. With the house market dropping as it has, we are interested in buying another house. Our credit is in pretty good shape. How long will we have to wait to be eligible for another house? Also how long will we have to wait to be eligible for an FHA loan?
Hi cskow,
You'll have to wait for 2-3 years in order to get qualified for a mortgage after a short sale. Though your credit score is in a good shape you need to wait for the required time period to qualify for a FHA or a conventional home loan.
Thanks
You'll have to wait for 2-3 years in order to get qualified for a mortgage after a short sale. Though your credit score is in a good shape you need to wait for the required time period to qualify for a FHA or a conventional home loan.
Thanks