Buying a Home After Short Sale

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If I sold my home via a short sale to avoid foreclosure and I had an FHA loan, will I be able to get another FHA loan?


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You will have almost zero chance of obtaining a new mortgage within a few years of a short sale. Lenders will view a short sale as a default on a mortgage obligation, and view this pretty much like they would a foreclosure as far as qualifying you for a new home.

Most lenders will want to see 4 years go by before lending you money for another home. Of course there are exceptions to this and any rule, such as finding a community lender, private mortgages, hard money loans, and portfolio lenders that may allow for less or no waiting period. It is usually a good idea to check out your post short-sale options prior to entering into such an arrangement.

Answered almost 6 years ago
Jeff Coon
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