People often ask me when they can get a mortgage after a Short Sale. Here are some quick notes about the different loan programs we offer and their ruling on Short Sales:
If you were current on your payments at the time of the Short Sale you can get a mortgage 12 months afterwards.
If you were late on your mortgage when you had the Short Slae, then you can *possibly* get an FHA loan 3 years after the Short Slae with exceptions. The Underwriter will want to see that there were extenuating circumstances beyond your control.
VA does not specifically state in their guide whether or not you can get a mortgage after a short sale. However, each lender and investor should have thier own guideline for this.
You can get conventional financing four years after the Short Sale.
Keep in mind every bank and lender is different and may have their own overlays ON TOP of these guidelines.