Alternative Credit & Home Loan Approval

There are basic credit requirements that each Phoenix area mortgage applicant must meet in order to obtain loan/mortgage approval. Each different type of home loan (FHA, VA, Conventional, USDA and JUMBO) comes custom fit with its own set of credit guidelines or “rules." When applying for a mortgage with an Arizona Mortgage Lender, a buyer may need to "beef" up or strengthen their traditional credit profile (the one that shows on their credit report) due to the fact that they either do not have … [Read more...]

Alternative Credit & FHA Home Loan Approval

  There are basic credit related requirements that each Phoenix area home loan applicant must meet  in order to obtain mortgage approval.  Each different type of home loan comes custom fit with its own set of credit guidelines or "rules".  When applying for an Arizona FHA mortgage, each borrower must typically show their Phoenix Arizona FHA mortgage lender a minimum of 3  trade lines that have reported at least 12 months of activity or payment history.  A trade line is equal to one … [Read more...]