Learn The Basics

Understanding how credit scores work can help put you in the right direction to purchasing your first home.
Understanding Credit 1

Why You Should Care

What are the credit standards for mortgage loans?

Alternative Credit

What is it?

Alternative credit is any accounts that you pay on time that do not report to the credit reporting agencies. Here are some examples:

Telephone Bills

Rent payments

Cable TV

Proof of payment

What is a Good Score?

740 – 800


680 – 740

Very Good
Below 620

Traditional lending is harder to obtain

Special, higher-priced options may be available

Things That Affect Credit Scores

Understanding Credit 2