Nontraditional Credit Loan Program

This loan is for borrowers that don't have or don't have enough traditional credit; credit that is reported to the 3 credit bureaus. The underwriter will require 3 credit accounts with a 12 month minimum history. These 3 pieces of "credit history" can be any combination of both traditional and Non-traditional credit and can come from either the borrower or co-borrower for a total of six, minimum.

Underwriting Guideline Highlights:

640 Credit Score Required

Purpose: Purchase & Cash Out Refinance

Required Credit Criteria:

  • Traditional Tradelines Can Come From Either the Borrower or Co-Borrower or Both.
  • Authorized User Tradelines Do Not Qualify.

Property Types:

  • SFR
  • Condo - Less Than 4 Stories
  • 3-4 Unit Properties Require All Traditional Tradelines/credit Accounts on the Credit Report


  • Owner-Occupied Only


  • 1, 3 and 5 year ARM
  • 15 and 30 year fixed


Reference# - 245091114