When Can You Get a Mortgage Again After a Shortsale?

---

Filed under: Qualifying for a Mortgage Loan

Tagged with:mortgage after a foreclosure · mortgage after a shortsale · when can you get a mortgage after a shortsale or foreclosure

---

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.

---