After 2 hours of reading, can anybody fill in some holes on getting a new mortgage?

[pinkpeanut01]

Discharged 2 mortgages on same property, no reaffirmation, doing pay and stay, we are current.

From what I've read (and read and read), we would potentially qualify for an FHA loan 2 years from our discharge date as long as we are no longer tied to or have a short sale or foreclosure on our IIB home. The "holes" I have are probably pretty stupid, but they are still running around in my mind.

If we sell our current home the old-fashioned way, how do we get into a new home? FHA/broker is going to want to know we got rid of the current home, right? Where do you go in the meantime? Can you qualify for a new mortgage as long as you have a signed sales agreement? Or does the sale of the current home need to be closed and settled first?

We are not anywhere near a 2-year anniversary, but I still want to use these next 2 years to get ready, do everything right if I can. I'm just not understanding the logistics of selling a current home and acquiring a new mortgage. Perhaps I'm not understanding it because this is the big question a lot of people have, but I'm just curious if anybody can explain the logistics of getting out of house A and moving to house B. If it's going to be a horrible PITA, I'd rather just start looking for a rental now (which is going to be very difficult where we live).

[rmcmorran]

I am confused why are asking . . . Are you looking into a FHA loan, I guess I thought you had to be a first time home buyer, without a home for the past three years or something like that . . . so wouldn't you need a conventional loan? In that case, I think you have to wait three years until after discharge. I imagine you would purchase a home just like any other purchase . . . with a PA on your current home now, that would be good enough to get a new loan . . . I am not sure though.