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Regular Contributor
Posts: 165
Registered: ‎04-04-2008
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Alternative lines of credit for USDA direct

Ok, so I didn't know I had to have 3 open lines for 12 months for my USDA loan. I have 2 (Utility and one CC for 2 years with no lates) and the other 2CCs I do have are only 5 months old. So, I'm trying to think what else I can use? My rent is only 9 months old, so that wont work for another 3 months, then I have Comcast which is also 9 months old, does anyone know if maybe I prepay 3 months I can use it like it's a year old? I mean if I prepay 3 months of rent could I use that, since I'm essentially covered for that year? Probably not, but thought I'd ask. I really wanted to get a pre approval before my year was up here so I can move before this lease is up, or be ready to atleast! I just don't have a lot of bills. My phone is in my dads name (family plan) so that won't work. 

Super Contributor
Posts: 8,706
Registered: ‎09-28-2007
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Re: Alternative lines of credit for USDA direct

- Rental history

- Utility Companies (gas, electric, water, landline home phone, or cable TV) 

- Insurance (non pay-roll deducted medical, life, auto, renters) 

- Child care payments made to a business 

- School tuition 

- Retail stores (department, furniture, appliance, specialty, rent-to-own, internet/cell phones) 

- 12-month savings pattern evidenced by regular non-payroll deposits (such as transferring $300/mo out of your checking account into your savings account each month, and leaving it there)

- Personal loans with evidence of payment terms and 12 months canceled checks

Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

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