Could I get a loan to buy a house even if I had to short sale a house

Yes.. FHA allows for immediate purchase after a short sale, however there are strict guidelines that must be followed to qualify, otherwise you would need to wait 3 years for FHA... under conventional, if you have 20% down, you can purchase a new home after 2 years.. .. 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

Yes.. FHA allows for immediate purchase after a short sale, however there are strict guidelines that must be followed to qualify, otherwise you would need to wait 3 years for FHA... under conventional, if you have 20% down, you can purchase a new home after 2 years

If your mortgage was not late before the short sale, FHA will allow a new purchase immediately. If you were late, then you must wait 3 years for a new FHA. We actually have a product that allows for a purchase immediately after a short sale or foreclosure. Unfortunately, it is only available in CA and AZ. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

You sure can, there is just a waitin period, similar to a foreclosure or a bankruptcy. Your chances are much better if you were not late on any payments on that mortgage. The waiting period is different depending on the new loan program you want. There is also a possibility an underwriter can approve an exception of a portion of the waiting period if the reason for the short sale was beyond your control.

Yes. just need to find to find out the waiting period from the date of sale.

You can...There would be a waiting period which would be determined by what type of new mortgage that you would be seeking. The average period is 3yrs.

You can, but there is a waiting period that is determined by the type of mortgage that you would be seeking. The average waiting period is three years.

Like my counterparts have suggested, there IS life after a short sale and that life includes access to mortgage financing. In addition to the waiting period, there are also down payment requirements that are different.My advice is to first check your credit to see how your lender is reporting that Short Sale on your credit report. For example, I also had to short-sell my own home and yet Bank of America continued to bill me for more than a year after the sale for the amount which was forgiven. Additionally, Bank of AMerica continued to report the past due balance to the credit bureaus. So frustrated was I that I actually wrote a blog about; here is the link to that article http://wp.me/pX1BG-Mo . It was actually that blog that caused Bank of America to correct their misreporting.Back to your credit report - check your report for errors FIRST - here's a link to a How-to Fix Credit Report Errors fast; http://wp.me/pX1BG-wJ

Zero to 3 years, depending on credit, down payment and reason for the short sale.

You may be able to qualify immediately with an FHA loan. IF you do not meet the FHA loan requirements, then you will be able to qualify after a 3 year waiting period. Speak with a local lender to determine your eligibility.

Best way to find out what applies to your specific situation is to contact a local, licensed mortgage professional.

If you have made all your payments on time and never went into default leading up to the short sale, then you are eligible to purchase another home without any waiting time

Generically, the answer is yes, as long as everything else checks out OK (credit scores, etc), and that a minimum waiting period of at least three-years after the short-sale has passed. There are some very strict exceptions to that rule, so contact a local mortgage broker in your area. Give them a full application, and let them present you with all your options. In MN and WI, visit www.StPaul-Mortgage.com