How hard is it to buy a home with no money down using alternate credit(rent, utilities)?

Im not sure what you mean by alternate credit. If its on your credit report, it will be used. However, if you have bad credit, they are going to use that against you. There is a website called www.annualcreditreport.com and you can access your credit report once a year. As far as the no money down part, there are alot of first time buyer programs out there who will help you. Good luck!How hard is it to buy a home with no money down using alternate credit(rent, utilities)?
The sub-prime industry is failing, so loans for bad credit are becoming more realistic. You will pay very high interest rates with no down as they risk of your property value actually dropping is pretty high.



I don't know what ';alternate credit'; is. If it was not reported to the credit agencies it is not credit, just a bill. Rent and utilities are not credit as you pay as you go, there is no interest, no bill that you are actually paying down. It is no more credit then your groceries are. If you want them counted you need to pay them via a credit card.How hard is it to buy a home with no money down using alternate credit(rent, utilities)?
That's how I got my home loan. The mortgage broker checked with the utility companies to see how my payment history was for a year.
not hard at all! I am a 45 yr old single mom, and I was in a similar situation where my lease was running out and my landlord was moving back in. I found a guy in CT who was absolutly amazing and handled my situation, and got me in the house with literally only about $300 out of my pocket!!! you can contact him at sunsetmortgagect@yahoo.com. If you prefer, he will direct you to his website, and his company email address if you want to feel more secure. Absolutely took me by the hand and showed me how easy it can be.



Good Luck!!
There are a few programs out there that you can qualify for with no credit, and alternative credit. FHA is a popular one you will need 3 letters of credit from utility companies, insurance companies, rent to own, etc. and one rent reference. Another loan is a My Community loan, there are income restrictions though on this program it all depends on where you live. Rates in these programs are in the mid 6's on a 30 year fixed loan.