When Can You Get a Mortgage Again After a Shortsale?


Filed under: Qualifying for a Mortgage Loan

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People often ask me for this information so I thought I’d post it.  Bookmark this page so you can refer back to it if necessary.

Conventional Loan

  • 7 years if borrower puts less than 10% down
  • 4 years if borrower puts 10% down*
  • 2 years if borrower puts 20% down

FHA Loan

  • 3 years from the completion date
  • Wait period is not required if borrower is current on mortgage/debts and is not taking advantage of declining market conditions.

VA Loan

  • 2 years from the completion date
  • Wait period is not required if borrower is current on mortgage/debts and is not taking advantage of declining market conditions.

USDA Loan

  • 3 years from the completion date *

 

* Extenuating circumstances beyond the borrower’s control such as a loss of job, medical bills, or the death of a wage earner are considered on a case-by-case basis and may shorten the waiting period.


Franklin Loan Center | NMLS 237653
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, 4131316
http://www.nmlsconsumeraccess.org/entitydetails.aspx/COMPANY/237653
For questions or concerns please email info@franklinlc.com