How soon can you use a VA loan to purchase a home after a shortsale on an FHA loan?
My husband and I did a short sale on our home 15 months ago on an FHA loan, because we were stationed over seas for three years it became to hard to hold onto the home. We would like to purchase another home using my husbands VA benefits now that we will be stationed stateside again. How long do we have to wait to use the VA loan? by sarahpooh2 from Killeen, Texas. Jun 24th 2011
Henry Daniels (HenryJDanielsNationalMortgage)
#11 ranked lender in Texas - 145 contributions
Hi Sarah, If you had a short sale you would have to wait 2-years from the date it was transferred to the new owner. HOWEVER, there is no waiting period IF you had NO lates on ANY mortgages and consumer debts within the 12-months leading up to the short sale.Sincerely,Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage CoachText "CoachHenry" to 50500 to get my eCardText "follow TexasRealLoans" to 40404 for Lending updates via SMSDirect: (832) 303-5693 Fax: (832) 217-3033 Find me on ALL Social Networks http://HenryJDaniels.comBlog: WoodlandsMortgageBank.comHenry J Daniels - NMLS #209419
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