thin credit file-USDA Approval??

[Anonymous]

I am trying to strengthen my application for a USDA loan (midscore 623-barely squeaks by). I have no open tradelines, so others (thanks Mickie and Shane) advised the alternative letters of credit. I now have a letter of credit from the water utility company and from Golds Gym (auto bank draft). If I also obtain a rental verification letter, does anyone feel that this would get me approved for a USDA loan? Income, time on job, DTI all are good. 2 paid collections 3.5 years old, 1 repo (paid) 3.5 years old, 1 chargeoff 3.5 years old.  EX 662, TU 598, EQ 623

[DallasLoanGuy]

last i heard, usda still takes alternative credit. banks dont take it on fha anymore.

ask your loan officer.

[ShanetheMortgageMan]

Yup, 3 trade lines at 12 months is the non-traditional credit that is needed.  Sounds like you'll be OK.