You searched:
“can I get a mortgage after a short sale”
If you're searching for 'can I get a mortgage after a short sale,' you're probably feeling a mix of uncertainty and hope. You're not alone — thousands of homeowners have navigated this challenging situation. A short sale can be a difficult experience, but it's often a responsible choice during financial hardship. Here's what most people don't know: a short sale is viewed more favorably by lenders than a foreclosure, and the waiting periods for a new mortgage are typically shorter. At National Mortgage Home Loans (NMHL), we've helped numerous borrowers recover and qualify for new mortgages after a short sale.
Take a breath. Help is here.
- You are not alone -- thousands of people search this every month
- Real options exist for your specific situation
- No judgment -- just honest guidance from licensed professionals
We've Helped Others in Your Situation
Why This Happens
Understanding the common reasons -- and knowing that each one has a path forward.
- 1Unexpected job loss or reduction in incomeSolution exists
- 2Medical expenses or disability that strained financesSolution exists
- 3Divorce or separation that led to unaffordable mortgage paymentsSolution exists
- 4Business failure or significant reduction in self-employment incomeSolution exists
- 5Natural disaster or other catastrophic event that damaged propertySolution exists
There's Always a Path Forward
Being denied feels overwhelming, but it doesn't mean your homeownership dream is over. Our specialists work with challenging situations every single day.
Understanding Your Situation
We know that a short sale can be a stressful and emotional experience. It's a significant financial decision, often made during a time of hardship. At NMHL, we want you to know that you're not alone, and we're here to help you navigate the next steps.
Our team has extensive experience working with borrowers who have gone through a short sale. We understand the challenges you're facing and are committed to finding a mortgage solution that works for you.
You're taking the first step towards recovery and new possibilities.
Your Path to a New Mortgage
The journey to a new mortgage after a short sale involves understanding your options and preparing for the application process. Different loan programs have varying waiting periods and requirements. For example, FHA loans typically require a 3-year wait, while VA loans may be available after 2 years.
- FHA 3-Year Wait: Ideal for borrowers who have re-established good credit
- VA 2-Year Wait: Available for veterans who meet specific service requirements
- Non-QM Loans: Potentially no waiting period with a significant down payment
Our experts can help you determine the best loan program for your situation.
Rebuilding Your Financial Foundation
Rebuilding your credit and financial stability is crucial for a successful mortgage application. This involves maintaining timely payments on existing debts, keeping credit utilization low, and monitoring your credit reports for errors.
At NMHL, we offer personalized guidance on credit rebuilding strategies and help you understand how these efforts can improve your mortgage prospects.
Small steps today can lead to significant improvements in your mortgage options tomorrow.
Next Steps with NMHL
Ready to explore your mortgage options? Our team is here to provide expert guidance and support throughout the application process. We offer a range of loan programs, including Non-QM options for complex financial situations.
By working with NMHL, you'll benefit from our extensive experience with borrowers who have faced similar challenges. We're committed to helping you achieve your homeownership goals.
Let's work together to find your path forward.
Your Options Right Now
NMHL Non-QM Program
Our Non-QM lenders offer flexible qualification options, potentially with no waiting period after a short sale if you can make a 20%+ down payment. This program is ideal for self-employed borrowers or those with complex income situations.
Act quicklyFHA 3-Year Wait
FHA loans allow applications 3 years after a short sale, provided you've re-established good credit. Our NMHL pre-approval process can help you understand your options and prepare for a successful application.
Act quicklyVA 2-Year Wait for Veterans
If you're a veteran, you may qualify for a VA loan just 2 years after a short sale. NMHL has extensive experience with VA loans and can guide you through the process.
Act quicklyTalk to someone right now
No automated menus. A real licensed mortgage professional who understands your situation.
(248) 864-2200Want to explore your mortgage options with someone who understands your situation? We're here to listen and help you find a path forward — no pressure, just expert guidance.
Start Your Application
Takes about 5 minutes. No obligation. No credit check until you are ready.
Our Presence
Click on endorsed states to see our direct resources!
Frequently Asked Questions
The waiting period varies depending on the loan type. For FHA loans, it's typically 3 years. VA loans may be available after 2 years. Conventional loans usually require a 4-year wait, but this can be reduced to 2 years with extenuating circumstances. Non-QM loans might have no waiting period with a significant down payment. Our NMHL experts can help you determine the best option for your situation.
A short sale will appear on your credit report, but its impact diminishes over time. By focusing on credit rebuilding strategies, you can minimize its effect on your future mortgage application. We've helped many clients recover from credit challenges and qualify for new mortgages.
Yes, getting pre-approved is a great first step. Our NMHL pre-approval process involves a thorough review of your financial situation, including your credit history and current income. This gives you a clear picture of your mortgage options and helps you prepare for a successful application.
You'll typically need to provide financial documents such as pay stubs, bank statements, and tax returns. If you're self-employed, additional documentation like business financial statements may be required. Our team will guide you through the specific requirements for your chosen loan program.
Rebuilding your credit, saving for a larger down payment, and maintaining stable income can all improve your chances. Our mortgage specialists can help you create a personalized plan to strengthen your mortgage application.
Want to explore your mortgage options with someone who understands your situation? We're here to listen and help you find a path forward — no pressure, just expert guidance.
We will reach out at a time that works for you. No pressure, no obligation.