How long do I have to wait before I can buy again?

Ever wonder how long you’ll have to wait to qualify for a new home loan after selling your home as a short sale; or after declaring bankruptcy; or after being foreclosed upon?

Well, one of my colleagues in the lending arena has passed along the information below that neatly summarizes the answers.  The waiting period can vary depending on the type of loan (i.e. Conventional, FHA, VA, USDA Rural), as well as the amount of down payment one is making on their new home.

Click on the charts below to access the information.

forclosure and short sale waiting periods   foreclosure and short sale waiting period

Note: this information provided by Patti Boorman of New American Mortgage.  In addition to being a loan officer for New American Mortgage, Patti is a long-time reader of this blog.  Feel free to post any questions for Patti in the comments below; I bet she’ll answer them for you.


  1. billddrummer

    So according to the charts, I could qualify for an FHA loan now (more than 3 years since completion of a foreclosure).

    But there’s that minor item of a full time job that I don’t yet have…

    Looks like I’ll be waiting awhile.

    Oh well, my rent’s cheap.

  2. MikeZ

    Patty, you have a typo: “Autoated Underwriting Systems.”

    You’re missing an “m” there, in Automated.

  3. bob_c

    3 years! Jee-zus…..just create a revolving door. Buy….2 years to foreclose (no payments made), rent 1 year and repeat. Someone should write a book on how to live almost for free using the foreclosure system.

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