December 1, 2011
In a recent blog post we answered a reader question about FHA home loans and non-traditional credit. Can an FHA loan applicant qualify for an FHA home loan even if they have limited credit history or a history of non-traditional credit?
The short answer is yes–after all, not all FHA borrowers choose to apply for credit cards, some buy their vehicles in cash, and don’t have many of the credit needs that others do.
The reader asked, “would the FHA look at our utility bill payment history instead of credit history?
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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