How soon after a short sale can I get approved for a home loan?

Conventional loan is 4 years from the completion of the short sale.FHA and RD guides are:A borrower is not eligible for a new FHA-insured mortgage if he/she pursueda short sale agreement on his/her principal residence simply to? take advantage of declining market conditions, and? purchase a similar or superior property within a reasonable commutingdistance at a reduced price as compared to current market value.Borrower Current at the time of Short SaleA borrower is considered eligible for a new FHA-insured mortgage if, fromthe date of loan application for the new mortgage, all? mortgage payments on the prior mortgage were made within the month duefor the 12-month period preceding the short sale, and? installment debt payments for the same time period were also made withinthe month due.Borrower in Default at the time of Short SaleA borrower in default on his/her mortgage at the time of the short sale (or preforeclosuresale) is not eligible for a new FHA-insured mortgage for threeyears from the date of the pre-foreclosure sale.Hope this helpsTodd ThollLeaderOne Financial309-236-3485

FHA has 3 different programs where you can purchase either immediately, after 1 year, or after 3 years... the standard program is 3.5 years, but for the other two programs, yo need to meed some very strict guidelines to qualify.. For VA, it's 2 years, but you must have VA benefits available to you.. and conventional is 4 years.. FHA requires 3.5% down, VA is zero down, and conventional is 5% down. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The "you had a short-sale" penalty waiting period depends on what sort of new loan you may qualify for. The best thing is to simply contact a local mortgage broker in your area. Explain your situation, and they will zero in on what options are available for you.