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Buying a Home after Short-Sale or Deed in Lieu - 2019 update
Welcome to 2019. We are another year past the financial meltdown that left many well intended people with Short Sales or Deed in Lieu on their records. New programs keep coming out that are changing the dynamics of getting a mortgage after a Foreclosure. 
 
Portfolio Mortgages (Also sometimes referred to as Non-QM) 
These are the most flexible mortgages to get after a Short Sale. Some programs do not require a wait period while others have a specific waiting period. The longer the waiting period , the less downpayment is required and rates are better as well. 
Buying a Primary or Second home after Short Sale or Deed in Lieu - 
No Wait after Short Sale - There are programs with 15% down required. Your credit can be pretty beat up as well with FICOs down to 580. These programs will have higher rates, but are very flexible.  2 years after Short-Sale - These programs require at least 10% downpayment . Rates are a little better than the fresh start programs, but still higher than conventional.  4 years after Short-Sale - Programs are available with as little as 5% downpayment. Your credit needs to be pretty clean otherwise. These rates are the best and can be very competitve.  Buying an Investment Property after Short Sale or Deed in Lieu - 
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