How does a short sale affect a person’s credit score? Now, new research indicates that the changes, though significant, may not be as bad as you think. This article from the company that does FICO scores, shows the result of recent research. As shown in the article, a lot of it depends on what your scores were before the short sale. And although the scores may be impacted for 7 years, it is important to remember that FHA loans are now available for FICO scores as low as 620 as little as 2 years after a short sale, so you probably will be able to buy another home before the full 7 years are up.