AZGirl2000 - The current wait time for a new conventional loan is 2 years after a short sale and you would need to put 20% down. If you wait 4 years, you would need 10% down for a conventional loan. For FHA, you would need to wait 3 years unless you completed your short sale without missing any payments (very rare, but possible). Your short sale must have also been due to a financial hardship and not a strategic short sale. One other cautionary note - when you speak with a lender, have them pull your credit to see when the short pay-off was reflected on your credit report. While you may be 2 years removed from the closing of the previous property, you can't get a loan until 2 years from the posting on your credit report. I have clients who had to wait an extra 6 months due to the delayed posting on their credit report. I have several great lenders in the Tempe area if you would like a referral.