You shouldn’t feel discouraged from purchasing a new home after your short sale. Discover a quick checklist to help you when you’re ready to buy a house again.

Jul 31, 2015 · You can get a new conventional mortgage backed by Fannie Mae or Freddie Mac after a short sale, as long as they meet the agency's specific requirements. For Freddie Mac loans, the mortgage must be for a primary residence with a maximum loan-to-value of 90%.

Jun 3, 2024 · To get a home loan after a short sale, you need time, good credit and money to put down. Find out the minimum requirements.

Buying a home after a short sale is not impossible. Yes, it’s true: the cards may be stacked against you. But getting a home loan after going through a short sale is very much achievable.

Jan 30, 2025 · Your credit scores will take a hit after a short sale, although possibly less than if you lost your home to a foreclosure. Nevertheless, a short sale will likely prevent you from getting another mortgage immediately.

The good news is you can still qualify for a home mortgage after a short sale. In some cases, it may take as long as four years before you’re eligible, but in others, you might qualify as soon as the day after your short sale closes. Let’s take a closer look.

Jul 31, 2015 · In most cases, you will need to wait at least a couple of years before buying, though in rare cases you can buy immediately after a short sale. In some cases, a short sale may have some unpleasant tax consequences.

How long after a short sale you must wait to buy a house depends on the loan type. There are minimum waiting periods before seeking a new mortgage or refinancing after a short sale.

Apr 26, 2016 · Having a buyer’s agent guide you through the home buying process is one of the smartest moves you can make when buying a home after a short sale or foreclosure. Your buyer’s agent will help you find the home that’s right for you and will work within your budget.

Oct 4, 2018 · In real estate, a short sale refers to a real estate transaction where the seller is selling their property for less than the balance of the outstanding mortgage on it. As a result, the net proceeds from the sale will be less than the amount …