I had a short sale that closed in october. Bought a house in october with cash. how soon can i get a loan on the new house?

You are currently in the "I had a short-sale" penalty box. There are potential options at two-years, but realistically, you will need to wait three-years.

it's likely you would need to wait 3 years... there are options for folks who had a short sale with no late payments, where they can obtain financing right away, or in 1 to 2 years after.. but the guidelines are pretty clear.. you cannot be taking advantage of the market... it' might be a hard sell to say you couldn't afford the payments on your old home, so you had to short sell it, and then go out the same month and pay cash for a home.. unless there were some pretty solid extenuating circumstances involved, your going to have to wait a minimum of 3 years, and possibly 4 for some lenders.. .. 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. 480-287-5714 WilliamAcres.com

3 years.

2-3 years

Were you behind on your mortgage payment when you made the short sale?

Minimum of 2 most likely 3 regardless of credit or downpayment

If you where behind on payments you have to wait 3 years.

If there were no late payments on the short sale I can refinance you right away. However if there were late payments then the waiting period is two years unfortunately. Let me know if I can help: P: 888-320-7888 - ken@mortgagesforamerica.org

Conventional lending will be 3 years as already mentioned. You can put a "private" sourced loan on anytime you want. Today there are many aunts, uncles, friends with money earning no return at the bank. If you have to free up some equity this can be an option. You may not get the premium rates but you can find loans in the mid-single digits. If you can offer a low loan to value this may be attractive to someone who needs to earn income on their deposits. Then you can refinance the loan after you exit the "short-sale" penalty box. You do have options.

3 years UNLESS you were up to date for the 12 month period prior to the short sale you can get a mortgage now.