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Mortgage Tip There is some inaccurate information being sent out by a number of lender reps regarding FHA loans.  They are saying that as of October 1, alternative credit will no longer be allowed for FHA borrowers.  That is NOT true.  If a borrower does not have a credit score because they do not have any credit accounts, FHA will accept three alternative credit accounts to establish their payment history.  Typical examples of alternative credit accounts are rent, utilities, a phone bill, cable TV bill, etc.  Using alternative credit for people who do not have credit scores is one of the hallmarks of the FHA loan program.   Again, alternative credit is still allowed for FHA loans.  It is not going away on October 1. www.judesandvallloans.com   Posted by Jude Sandvall on 09/08/2008 12:53 PM   Comments (0)   mortgage tip   0 Comments on Mortgage Tip Notify me of new comments: Email: What does the graphic say? Leave a response… Name: Email: (optional) Comment: What does the graphic say?

Jude Sandvall

Aurora, CO

More about me…

Jude Sandall Realty Group ~ Cherry Creek Properties

Address: 5588 S. Parker Road #163, Aurora, CO, 80015

Office Phone: (303) 955-2117

Cell Phone: (720) 255-1021

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