Untraditional credit?

[Anonymous]

I am in the process of trying to obtain a mortgage for my first home. My scores are not the greatest- 586, 613 and 636. They want 3 credit references. Problem is I only have 2 references- child care and renters insurance. I don't have anything else in my name. They want a letter from my landlord which is separate from the 3 references. My fiancée has everything in his name because that's just the way we decided to do it. The only other things I have are Netflix (pathetic I know...) and I paid "car payments" to my parents because they bought it and I paid them back and the car is currently under their insurance still (they have way better rates). BTW, they want stable references- of about 2 years....

Anyone have any experience with this??

[Anonymous]

Have you looked into getting a secured credit card? That would help build your scores and help with the references you need - it will take time though.

[edcampbell613]

All these need to be in your name to count

Cell phone?

Power?

Water?

Auto insurance?

ect.

Any thing you have a monthly debt can be called non-traditional credit and the banks can use (as long as they dont have an overlay)

[Anonymous]

A secured card would be traditional credit- on my report. I have credit cards but only 2. I have literally nothing in my name! Only my lease and renter's insurance. This is not looking hopeful....

[edcampbell613]

They usually want to see a 3 year history for acounts reporting on your credit report