Non-Traditional Credit Options For Mortgage Applicants

Credit scores can be the difference between getting a good interest rate on a mortgage or in some cases even getting a mortgage at all. Most housing markets throughout the country favor sellers at the moment because there are so few listings available so buyers have an extra obstacle of needing to come with a solidly underwritten offer in order to remain competitive. But what if you don’t have a great credit score? Or have recently left your job and have a gap in income? Luckily more and more lenders are willing to look at non-traditional ways of determining if someone is a low risk for defaulting on a loan. Bruce Marks, CEO of the non-profit NACA that provides loans to low credit score borrowers, says his company relies on non-traditional credit metrics frequently so I spoke with him to get an idea of what lenders are looking for.

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About the Author

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Vicki Morgan

Howdy! A little bit about myself: As a native Texan, I grew up just outside of Leon Valley. I went to John Marshall High School when girls still had to wear dresses to school. My fondest memories were riding my horse bareback up and down Bandera Highway. My mother referred to me as her blonde headed Indian! I have been a Realtor for close to 20 years and absolutely LOVE this business. I’ve been blessed beyond measure in my real estate career. My business has experienced continual growth since the beginning! God has given me a PASSION for helping others become debt free and along with locating and selling properties for my clients. I frequently will see a client that I am working on credit issues with in the grocery store and check to see if they have beans and rice in their shopping basket! I love what I do! Would love the pleasure to assist you with your real estate transactions too. I look forward to hearing from you! Sincerely, Vicki Morgan, Realtor 210.394.3194 Direct www.ClassicTexan.com

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