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There is a lot of question on when a borrower can purchase a home after he/she has done a short sale. Below are the lender requirements from Fannie Mae and FHA

Fannie Mae - If the short sale occurred more than 2 years ago but less than 4, your max LTV(loan to value, down payment needs to be 20%) is 80%. If the short sale occurred greater than 4 years ago but less than 7, your max LTV(need to put down 10%) is 90%. If the short sale is older than 7 years, there are no limitations. If your loan has MI, it is possible that there may be additional restrictions. I have attached for your convenience. There are additional tradeline requirements which I can provide upon request.

FHA - The short sale must be at least 3 years old to proceed with purchase money transactions, 3.5% as a down payment.

Please call Cory Kingbay 612-978-1724 if you have any addtional questions about buying a home after you have sold as a short sale.