In case you are wondering…Conventional Loan changes just took place August 18th. Previously, you could buy a home 2 years after a Short Sale using a Conventional Loan with 20% down. This is no longer an option. Here will be the new “Waiting Periods” after a Short Sale.
1. Conventional Loan 4 Years
2. FHA Loan 3 Years
3. VA Loan 2 Years
I have included a current “cheat sheet” for your reference regarding waiting periods for Short Sales, Foreclosures, and Bankruptcy’s. This is broken down by the 3 different types of loans. If you have any questions, don’t hesitate to ask 🙂