Types of Non-Traditional Credit. Military Credit: American Council on Education (ACE) guidelines will be used with discretion when considering military credit for courses (not occupations) documented on the DD-214 and/or other official training documents. Typically, credit is considered when it

Apr 20, 2016 · Guidelines from the U.S. Department of Housing and Urban Development for FHA loans address how nontraditional credit histories can be used to qualify for a mortgage. Successful applicants must be Mo st people think that credit scores are required for mortgage financing, and for a lot of situations that is true. However with FHA, VA, USDA and even Fannie Mae financing (that means conforming loan programs) you can purchase without any credit scores as long as you have sufficient non-traditional credit references as well as your credit report is free of delinquent marks (late payments If your mortgage credit report has limited data, don't despair. Mortgage lenders are much more accepting of non-traditional credit today. HUD 4000.1 On FHA Mortgage Loan Credit Score Requirements. When you apply for a mortgage loan to purchase a home, your lender will require you to sign paperwork authorizing your loan officer to run a credit check on all parties to be obligated on the mortgage. Fannie Mae is changing its requirements for non-traditional credit. Non-traditional credit is used when a borrower does not have a credit score. The underwriting guidelines allow a lender to develop a credit history for the borrower based on four alternative credit lines, which are credit accounts that do not appear on a credit report. Section C. Borrower Credit Analysis Overview In This Section This section contains the topics listed in the table below. Topic Topic Name See Page 1 General Guidelines for Analyzing Borrower Credit 4-C-2 2 Guidelines for Credit Report Review 4-C-7 3 Evaluating Non-Traditional Credit and Insufficient Credit 4-C-16 FHA loan rules about credit re