Posted on: 22nd Jan, 2014 10:01 pm
I had a short sale in 2012 December. How long do I need to wait in order to get new mortgage?
Hi Boise!
Welcome to the forums!
If you wish to qualify for a conventional loan after short sale, you need to wait for 2-3 years. If you are going for a FHA loan, then you will have to wait for 1 year after the short sale was over to get a mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If you wish to qualify for a conventional loan after short sale, you need to wait for 2-3 years. If you are going for a FHA loan, then you will have to wait for 1 year after the short sale was over to get a mortgage.
Feel free to ask if you've further queries.
Sussane
If you were behind on payments it is treated like a foreclosure - the soonest you can qualify is 3 years via FHA - if you can document a loss of income that is out of your hands you may have an option sooner but you need to be able to document that an income earner lost their income based on issues out of their control.
Good luck
Brian Barnes
ENG Lending
National Lender
Good luck
Brian Barnes
ENG Lending
National Lender
