We'd need to know a little bit more. It is *possible* that you could buy right away using FHA financing IF you were current on your mortgage at the time of short sale and had a hardship recognized by FHA.
If not and you have 20% to put down the wait time for conventional financing is two years from the closing date of your short sale, if you only have 10% down conventional guidelines say four years..
If not standard FHA guidelines are three years from the sate of the short sale.?
With any scenario the lender will need to see that you have?maintained?a good payment/credit history on all your other accounts since the short sale, especially the last 12 months.
Your credit score does matter but it is way down the list of important factors when it comes to buying after a short sale (it doesn't matter any more when buying after a short sale than it does when getting a mortgage in any other situation).
Hope this helps a little bit.
Sincerely,
Greg Cowart
Partners Mortgage
Roseville, CA
Source: http://www.zillow.com/advice-thread/how-to-purchase-a-home-after-short-sale/473537/
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