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Lenght of credit history for a mortgage

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Anonymous
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Lenght of credit history for a mortgage

Would a thin file work for a mortgage ? A friend of mine wants to buy a house but his credit history is really short . His oldest account is about a year old . Whats the minimum history lenght required for a mortgage ?

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Anonymous
Not applicable

Re: Lenght of credit history for a mortgage

The refugee is asking-

 

"Would a thin file work for a mortgage?"

 

Well, that depends.  If you're a hot shot draft pic, with a 2 mil signing bonus out of college, you're good to go.

 

If you're a regular guy, just outta school with a job making 35k a year, well, you're prolly gonna get the dreaded, "tell ya what, lemme look this over and I'll get back to ya."

Message 2 of 3
DallasLoanGuy
Super Contributor

Re: Lenght of credit history for a mortgage

most lenders require 3 trade lines of 12 months

 

fha can utilize alternate trades like rent and electric payments verified.

 

Retired Lender
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