Buying a Home After Short Sale

The primary limiting factor for post-short sale buyers is the “loan-to-value” ratio – or how much the buyer is able to put down on the home. An LTV of 80%, for example, would mean that the borrower paid 20% of the loan “down” in cash. The loan covers 80% of the home’s appraised value.

General Waiting Periods

Here is how long a buyer must wait to obtain financing after a short sale:

FHA Back-to-Work Program
12 months

2 years (with extenuating circumstances)
4 years (without extenuating circumstances)

3 years (from sale)

2 years (from sale) if borrower was not delinquent at time of transfer.
3 years (from sale) if borrower was delinquent at time of transfer.

3 years (from sale)

Step 1. Get Pre-Approved.

How Does Pre-Approval Work?

Getting pre-approved is as easy as 1-2-3!

1. Create an Account

Creating an account is fast, easy, secure and FREE! Your account enables you to easily modify your loan application and view the status of your loan anytime day or night.

2. Submit Information

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely.

3. Get Pre-Approved

Kick your feet up while we crunch the numbers. Pre-approval can be done very quickly if you provide a complete and accurate loan application and supporting documentation.

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