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What are non-traditional credit tradelines?
FHA allows mortgage loan applicants with no credit scores and no traditional credit tradelines to qualify for a residential mortgage loan as long as they have non-traditional credit tradelines. Three non-traditional credit tradelines are required. Non-traditional credit tradelines are tradelines such as insurance bill, water bill, gas bill, electric bill, water bill, telephone bill, cable bill, cellular phone bill, or any other forms of regular payments a mortgage loan borrower makes and the creditor does not report their payment history to the three major credit reporting agencies; Experian, Transunion, and Equifax. To be considered a valid non-traditional credit tradelines, a 12 month on time payment history needs to be provided and proven by providing 12 months of canceled checks. The mortgage lender needs to do a credit supplement to the three credit bureaus reflecting and posting the three non-traditional credit tradelines. Rental verification is also considered a non-traditional credit tradeline and 12 months worth of canceled rental checks needs to be provided.

Attached is an article on non-traditional credit tradelines.

Here is an article on non-traditional credit tradelines:



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