If you have a Foreclosure, Short Sale or Deed-In-Lieu on your credit report, how long till you can get a mortgage

Per a legal update at last weeks Michigan Association of Realtors conference, Fannie Mae, the largest lender in the United States has come out with these rules. If you have the following, it will take a credit score of 680 or higher plus this length of time from the following to be able to attain financing.

  • Foreclosure – 5 Years
  • Deed-In-Lieu – 4 Years
  • Short Sale – 2 Years

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