how long do you have to wait after having short sale to buy another house?

Asked by Bobbie Briggs, Las Vegas, NV Wed Oct 3, 2012

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Chad Roberts, Agent, Henderson, NV
Sun Aug 18, 2013
Most lenders will require that you wait 3 years before getting an FHA loan with 3.5% down, or 2 years for conventional financing with 20% down.

Chad Roberts
Realty One Group
0 votes
Joycelewis412, Home Buyer, Sacramento, CA
Sun Aug 18, 2013
Some restrictions are up to 3 years and will also depend on your credit rating and income.

Check if you qualify for a mortgage. Try
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Robert Adams, Agent, Henderson, NV
Wed Oct 10, 2012
Shane said 3 years for fha. From what I have heard from my kenders it is 3 years from foreclosure and only 2 years from short sale.

Best regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
0 votes
2 years with conventional with 20% down. Directly from HUD: "Borrower in Default at the time of Short Sale: A borrower in default on his/her mortgage at the time of the short sale (or preforeclosure sale) is not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale." Hope that helps, feel free to contact me anytime for questions.
Flag Wed Oct 10, 2012
David Cooper, Agent, Los Angeles, CA
Wed Oct 10, 2012
If you are seriously looking for a realistic assessment of your credit qualifications after going thru a short sale and help with credit repair,
I would email or phone for a private, no obligation consultation to
Sharon @Southern Fidelity Mortgage 702-862-6775

David Cooper Investor 702-499-7037
0 votes
Al McGhee at…, , Las Vegas, NV
Tue Oct 9, 2012
Shane had the correct answer:-)
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Robert Adams, Agent, Henderson, NV
Thu Oct 4, 2012
If you have cash you can buy right away. If you are requiring a loan that will depend on what kind of loan. FHA is 2 years from a short sale and 3 years from a foreclosure.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
0 votes
Matthew D'Er…, Agent, Las Vegas, NV
Wed Oct 3, 2012
If you have at least 10% down I can put you into a home right now. If you want to do a conventional or FHA loan the wating period depending on if you were current or not, income to debt, job history, credit history/score. I am a long time real estate agent and lenders executive assistant so I can answer all of your questions at one time. Please email me or call. Thanks, Matt( or 702.501.0973

Matthew D’Ercole
Agent, One Source Realty and Property Management
Buyer / Investor Specialtis
Executive Assistant, North American Financial
Cell - 702.501.0973
Website -
0 votes
Dean Decker, Agent, Las Vegas, NV
Wed Oct 3, 2012
We would have to review your specific situation to determine the correct answer for you.
Sorting out some basic questions would define how and when you can proceed.

1. Have any late pays in the 12 months prior to the short sale?
2. Loan details?
3. Any extenuating circumstances beyond your control that helped bring about this event?
4. Where is your credit score now and what has been done to re-establish credit?

My lenders have been in business for 20+ years if you care to delve into the details and get concrete answers.

Best regards,
Dean Decker
0 votes
Chris Fraley, Agent, Henderson, NV
Wed Oct 3, 2012
This really depends on a variety of factors, including how your previous mortgage was handled and what else is on your credit report. If you're serious about buying a new home soon, you should start talking to a mortgage professional now. They have the most up-to-date information on the different options available specific to your credit and financial situation.

Feel free to shoot me an email,, and I can get you in touch with some of the best mortgage pros in Las Vegas. They will help you get on the right path towards buying your next home.

Chris Fraley, REALTOR
Prudential Americana Group
(702) 286-1999
0 votes
Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Wed Oct 3, 2012
If you have cash - you don't need to wait at all. But if you are going to use a traditional mortgage through a lender or mortgage broker then the below information would apply.

With conforming (Fannie Mae/Freddie Mac) financing a minimum of 2 years is all that is required. You'll need 20% down, but if the short sale was due to documented extenuating circumstances (medical, job loss, death of a wage earner, etc.) then 10% down is permitted. At 4 years then 10% down is permitted no matter the reason for the short sale, extenuating or not. At 7 years then maximum financing is available (which currently requires 3% down).

FHA normally requires 3 years from the short sale, but can be OK with just 1 day afterwards if you were current on your mortgage at the same of the short sale, your payments were made on time for the 12 months prior to the short sale & you aren't looking to take advantage of declining market by purchasing a similar or larger home in the same area as you short sold. FHA currently requires a 3.5% down payment.

Shane Milne | Lending in all 50 states | NMLS #81195
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James Bellile, Agent, Las Vegas, NV
Wed Oct 3, 2012
The length of time really depends on if you missed payments or not. If you did not miss payments on your property before completing the short-sale, you can be in position to purchase the next day. If you did miss payments, at least one year must pass.


James Bellile
iProperties International
0 votes
Petra Reyes, Agent, Las Vegas, NV
Wed Oct 3, 2012
Typically is 3 years, providing you have employment and your debt to income rate is under 45 for an FHA loan and you have money saved for down payment and closing cost.
Call anytime if you have more questions.


Petra Reyes, Realtor®, SFR, ABR®
Realty One Group, Inc
1333 N Buffalo Dr, Suite 190
Las Vegas, NV 89128
Cell: 702-856-6356
E-fax: 702-946 5038
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