no established credit? "we can help"

If you have limited credit or no credit, there is a way to purchase a home with no money down! Many of my clients have purchased a home without having credit scores any tradelines showing up on their credit report.

FHA financing allows for "alternative" tradelines to be used to determine the "creditworthiness" of a borrower. Typical examples of these are as follows:

1. Rent or Contract payments for current residence
2. Utilities (eg. gas, electric, water)
3. Insurance (eg. car, renters, homeowners)
4. Rent to Own
5. "Buy Here-Pay Here" car lots

This list names the most common "alternative trade lines" used in qualifying for FHA financing. There are some guidelines when qualifying these tradeline. Firstly, you must have at least 3 alternative trades that have been established for at least 12 months. Secondly, the trades lines must have been "paid on time" for the past 12 months. And third, your credit report needs to be free of judgements (unless they have been paid). Additionally, the credit report cannot show multiple collection accounts that have occured in the past 12 months.

If you can meet these criteria you may be able to purchase a home with no money down. FHA loans will finance up to 97% of the purchase price for the home you select. The remaining 3% down payment funds can come from a "down payment assistance" program which we specialize in. View more information about how the down payment assistance works by clicking here

Feel free to cantact me with any questions anytime via my mobile phone or email. My contact information is listed below.

Alan Pressley
Office: (812)853-8860
Toll Free: (866)962-4810
Mobile: (812)573-5032
Email: apressley@acceptancecapital.com