Short Credit History

[caribgirl11]

DH's credit report says his aaoa is 10 mths with a 673 fico (no lates) and mine is 11yr 8 mo with a 670 fico (paid all old collections and no lates for 2 yrs 8 mths).  If we are looking to get a mortgage loan together, will his aaoa hurt whether we are approved or not? 

[Anonymous]

Typically they want to see 3 credit lines for a full year.  It is alot easier when these are actual credit lines that appear on your credit report (loans, CC's).  There are ways around that as long as he has utilities or something on those lines that he can show good payment hsitory on for the last year.

[caribgirl11]

More info...this would be for an FHA loan.  Thanks again.

[caribgirl11]

He currently has a cap 1, au on my cap 1, au on my hsbc, his own amazon and that's it...how does that sound?  But all are under 1 year old.

[ShanetheMortgageMan]

The length of your credit history can qualify for both, you will be fine.  As long as he has a credit score that qualifies for the FHA loan program, and you have the 3 trade lines which 12 months of history, it doesn't matter if he only has 1 credit card for 1 month and nothing else.

[caribgirl11]

I had no idea...Thanks Shane!!