Little credit history, can i use rental history to qualify?

If you have student loan payment history, you will have built sufficient enough amount of credit history to generate a FICO score. If all you have is student loans, you will most likely be required to provide alternative credit history (i.e. utilities, cell phone, insurance, rents, etc...) to strengthen your credit profile. Speak with a qualified mortgage loan originator who can provide guidance specific to your needs. Good luck and have a great holiday weekend.

Hi Jace,If you paid the rent by check and can get copies of the cancelled checks, that plus the student loan payments showing up on credit will go a long way towards getting you approved. Of course you must have funds for the down payment as well. You need a minimum of 3.5% of the purchase price in cash if you go FHA which is what I would recommend in your situation.

The short answer is yes.. FHA will use your rental history assuming they can verify it. They also allow for other types of bill you have to be used as "Alternative credit references", but understand that even though FHA allows it, not every lender will, so it's best you shop around for a competent local mortgage broker and apply with them.. once they look at your complete profile, they should be able to tell you exactly what you would qualify for.. if you don't qualify now, they can show you how to qualify in the future. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Hi Jace,Your payments on various monthly accounts can be used for what's known as establishing non-Traditional credit. We do this frequently for our clients in your situation.Happy to look into this for you.

Your rent and utility payment history should be sufficient.