Home Buying in 18301>Question Details

Celete Prevo…, Home Buyer in East Stroudsburg, PA

Most banks want 3 forms of credit when purchasing a home. What happens if you have only 2?

Asked by Celete Prevost, East Stroudsburg, PA Wed Oct 26, 2011

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2
Dan Tabit’s answer
Celete,
Traditional credit includes credit cards, rent and auto loans. Non-traditional credit can be cell phones, rent to own plans and other utility bills. If you have two traditional forms of credit, you may be fine with a third non-traditional form.
2 votes Thank Flag Link Wed Oct 26, 2011
BEST ANSWER
My buyer just had this same issue. My lender used their rental history and an electric bill. Good Luck!
0 votes Thank Flag Link Wed Oct 26, 2011
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