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Sunface21, Renter in Atlanta, GA

FHA Manual Underwriting with No Credit Score

Asked by Sunface21, Atlanta, GA Tue Feb 26, 2013

My boyfriend is a first-time home buyer and he has insufficient credit - he doesn't use credit cards, he pays for everything with cash. He has used credit in the past, but paid all his debts off and doesn't currently have any open credit accounts- he is looking for a lender who does FHA loans with manual underwriting in the metro Atlanta area - can anyone refer us to someone?

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thanks for all the answers everyone! KC I will be calling you later this week to discuss! :]
1 vote Thank Flag Link Wed Feb 27, 2013
I would be happy to help - we do FHA loans (3.5% down with no investor overlays) with manual underwriting in AL, AR, GA, IN, LA, MS, OK, SC, TN & TX.

Feel free to apply online at or give me a call. :)

K.C. Jones
RH Lending
0 votes Thank Flag Link Wed Feb 27, 2013
If he has 3 lines of utility bills, cell phone, gas, electric, cable for 12 months and a zero score then he can go through the GA Dream foundation. He will have to put 3.5% down and may not qualify for down payment assistance. Go to their website. Local small banks or credit unions may also lend money.
If he doesn't have that then he needs to rent for a year and open 3 lines of credit (secured or unsecured).
0 votes Thank Flag Link Tue Feb 26, 2013
Sorry to say but I don't think any lenders are closing/funding FHA loans without a credit score anymore. They were allowed at one point years ago, but underwriting guidelines have become more stringent.

You may check with some national lenders and brokers at on fha loans to see if it's possible. There are several mortgage brokers listed on that site with access to hundreds of wholesale lenders offering fha loans.

I would see if your boyfriend's parents will co-sign. If they meet fha score and guideline requirements, and the overall debt to income ratio is within requirements he may be able to get an fha loan that way.
0 votes Thank Flag Link Tue Feb 26, 2013
As a Realtor here in Atlanta I have never heard of any lender doing this type of loan.

Rick Payne
Keller Williams Realty
0 votes Thank Flag Link Tue Feb 26, 2013
I am not aware of any lenders doing a Manual underwrite with no credit score at this time. We will allow the Co-Borrower to not have a credit score so long as the occupant Borrower has a sufficient enough of a credit score.

To generate a credit score, you typically need to have 2-3 trade lines with a 12-24 month history.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Tue Feb 26, 2013
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