The Washington State Housing Finance Commission (WSHFC) is now allowing borrowers without established credit (aka “non-traditional”) to qualify for a mortgage.
Here are some of the requirements: [Read more…]
NEW! WSHFC now allowing Non-Traditional Credit
December 14, 2017 by Leave a Comment
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…]
