How soon can I buy?

Below is one of the most common questions I get:

Q - Unfortunately I had to short sale my home three years ago. I have gotten another job and have been saving money for a new home. How soon after a short sale can I get a mortgage loan to purchase a house?

A – This answer is qualified as being “typically” with a lot depending upon the circumstances surrounding the short sale,  these timeframes are not carved in stone:

FHA: 3 years, USDA: 3 years, VA: 2 years, conventional: 2-7 years: [2 years with 20% down, 4 years with 10% down(2 years/10% with extenuating Circumstance) and 7 years with less than 10% down].

 

If you have any questions regarding the short sale process…give me a call directly at 561.602.1258

Thanks for reading…Steve Jackson