Home Buying in Adelanto>Question Details

Douglas Gray, Home Buyer in Adelanto, CA

My family needs to move to the Adelanto due to employment my husband has no credit i would like to know what it is going to take to make this dream

Asked by Douglas Gray, Adelanto, CA Sat Jun 4, 2011

a reality

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Shane got the answer dead on. If you do not fall under those guidelines than you need to sit down with a professional (mortgage broker) and outline a plan to build or fix your credit. Most people can do it in 6-12 months.
0 votes Thank Flag Link Tue Jun 7, 2011
Start out by renting or leasing something. For crying out loud what's up with this "need to own" thing?
0 votes Thank Flag Link Sat Jun 4, 2011
No credit as in no credit scores or never had a credit card?

If so, that is no problem if he (or you) can provide enough non-traditional credit sources (typically need 3 that are 12 months old, with no late payments). Most commonly accepted forms, in order of typically how easy they are to get, are:

- Rental history
- Utility Companies (gas, electric, water, landline home phone, or cable TV)
- Insurance (non pay-roll deducted medical, life, auto, renters)
- Child care payments made to a business
- School tuition
- Retail stores (department, furniture, appliance, specialty, rent-to-own, internet/cell phones)
- 12-month savings pattern evidenced by regular non-payroll deposits
- Personal loans with evidence of payment terms and 12 months canceled checks

If he (or you) has them, then FHA financing (or VA or even USDA - if his income is low enough) could all be possibilities. Adelanto has a lot of areas eligible for USDA - you can check at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
0 votes Thank Flag Link Sat Jun 4, 2011
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