If you’ve had a bankruptcy, foreclosure or short sale, the above chart will show you how long you have to wait and what your credit report history should look like in order to be eligible to qualify for one of the mortgage programs mentioned. The first thing you can do is get a secured credit card. This means you would give the bank a certain amount of money and they will give you a credit card with that amount as a credit limit. You are essentially using your own money instead of the banks. If you default they have the money to pay off the debt. You would want to ask if the bank would be reporting to the 3 major repositories Equifax, Transunion and Experian. Ideally you would want the bank to issue you a bank backed credit card.