The Waiting Period After a Short Sale

When can I buy again?

That’s what my clients who’ve recently had a short sale keep asking me. Today I’m joined by Tom Ross from Nova Home Loans to help give you some answers.

As to the when, it depends on what kind of financing you’re going after. For conventional loans—meaning anything less than $417,000—you’re looking at a four-year waiting period before you can buy again. For an FHA loan—meaning $271,050 or lower—you’re looking at a three-year waiting period. For VA loans, you only need to wait one year.

If you need help with your credit or finances, it might be a good idea to speak with a loan officer and utilize their free credit services department. After a short sale, though, the tendency with some people is to completely withdraw from staying active with their credit score.

It might be a good idea to speak with a loan officer.

Depending on the type of financing you’re looking to obtain, the loan officer has to be able to see that you’re using credit. Many times, after four years, your credit score will have naturally increased to a point where you can qualify.

Regarding foreclosures, the timeframe is slightly different. In this instance, the waiting period is seven years for conventional loans, three years for FHA loans, and two years for VA loans.

For more information specifically about home loans, be sure to contact Tom by phone at 602.791.5861 or email at

If you have any other real estate questions, be sure to give me a call or send me an email. I’d be glad to help you in any way I can.