Down payment, credit score, etc. depends on the loan type that you want to use when you go to purchase. A higher down and credit score is always a good thing when purchasing.
If you need further assistance, you can contact me at: http://www.davidpeckhomes.com
I'm in Canby and service the Wilsonville area.
The thing is; this is not a LAW or a directive. It probably has never seen print, particularly in a government office.
I totally expect the Lenders to be flexible with this, particularly when they need to find new clients for their loans.
You can use the two years to save some money and rebuild your credit.
Good luck and may God bless