I’ve written articles before about issues to consider if you’re going through a divorce and have a mortgage…what if you were never married? Couples (or single people) often buy homes together…what if worse case scenario, it doesn’t work out and one party wants to keep the home? [Read more…]
Credit and Financial Strategy
Your mortgage approval doesn’t start with a rate — it starts with your credit profile and financial structure.
In this section, you’ll find educational articles on:
- Credit scores and reporting
- Debt-to-income ratios
- Mortgage insurance
- Bankruptcy recovery
- Financial planning considerations
- Long-term homeownership strategy
Understanding how lenders evaluate credit and income allows you to prepare strategically rather than reactively.
My goal is to help you improve your financial scenario — whether that means preparing to buy, restructuring debt, or planning your next move.
Documenting Alternative Credit with FHA Loans
July 15, 2008 by 15 Comments
EDITORS NOTE: This post was originally published in 2008. Underwriting guidelines ALWAYS change. Please contact me if you have any questions.
FHA insured loans, which are quickly becoming the mortgage of choice unless you have 20% down payment and 720 credit scores, allows people to obtain mortgage financing if they are shy on an established credit history reported to the credit bureaus. Typically, a borrower needs to the following shown on their credit report for it to be considered “established”: [Read more…]
