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VA Loans and AU Reporting

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Crossdivided
Established Contributor

VA Loans and AU Reporting

I am considering asking a family member to add me as an AU on a Discover account strictly for revolving util purposes. I understand on conventional loans this is sometimes a problem, but would it make any difference for a VA loan assuming you otherwise qualified without the AU account?

I have multiple other (individual) tradelines, so it wouldn't be needed to show recent good payment history, etc.

Thank you!
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Crossdivided
Established Contributor

Re: VA Loans and AU Reporting

bump

Message 2 of 4
postalmommy
Established Member

Re: VA Loans and AU Reporting

bump

Gardening until November 2013
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Goal 750 for ALL
Message 3 of 4
ShanetheMortgageMan
Super Contributor

Re: VA Loans and AU Reporting

VA is fine with that, they don't have any rules regarding authorized user accounts.  The lender you go with may have overlay guidelines, but if you have plenty of credit and the AU account isn't one of just a few accounts in good standing I doubt it'd even come up as an issue.  Even on conventional loans it usually isn't an issue.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
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