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How soon can i refinance after a short sale?

Is the waiting period the same in all cases as securing a normal mortgage? by LStrod_569_991 from Vinton, Virginia. Oct 12th 2012 Reply


Peter Botros (PeterBotros)
#75 ranked lender in New York - 895 contributions

No. It will depend on the circumstances of the short sale. If you were current on your mortgage for the 12 months prior to the short sale, you may not have a waiting period at all. Contact your local lender for some help. Best Of Luck!

Oct 12th 2012
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Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

Depends on if you were current on the loan or in default/had missed payments. If you were current you can be eligible for a loan pretty quickly but if you werent then it can be 2 yrs.

Oct 12th 2012
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 4,848 contributions

It depends on which type of mortgage you have now... for example, if you have an FHA mortgage, you can refinance right now, so long as there has been no late payments in the past 12 months.. (Not all lenders, but there are a few out there that will do them..).. However VA, USDA and conventional have different guidelines and waiting periods.. And it also depends on whether there were any late payments on the home you short sold as well.. but really we need more info to answer properly... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Oct 12th 2012
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 1,545 contributions

I'm not certain whether you sold your home as a short sale, or purchased a home that was a short sale. Others have answered the first option, if you were the buyer, you can refinance any time. There isn't any waiting period for the purchaser, but the lender who financed you generally would prefer you make at least 5-6 payments first or they have to pay a "early pay off" penalty. I lend in VA if you would like to look at options. (But I don't have options for you sold a house as a short sale unless you fit the conditions others stated)

Oct 12th 2012
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Team Best Mortgage Option (TeamBestMortgageOptionAtAmbassadorFundingLLC)
#31 ranked lender in New York - 1,960 contributions

Generally 3 years.

Oct 12th 2012
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How do you refinance a house if you had a short sale?

Oct 12th 2012
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