DU Loan Casefiles: At Least One Borrower Has No Credit Score and Another Borrower Has a Credit Score
If one (or more) borrower(s) has a credit score and at least one borrower does not have a credit score, then DU will apply the following requirements:
- The property must be a one-unit, principal residence, and all borrowers must occupy the property.
- The transaction must be a purchase or limited cash-out refinance.
- The loan amount must meet the general loan limits—high-balance mortgage loans are not eligible.
- Reserves may be required as determined by DU.
- If the borrower(s) with a credit score is contributing more than 50% of the qualifying income, the lender is not required to document a nontraditional credit history for the borrower(s) without a credit score.
- If the borrower(s) with a credit score is contributing 50% or less of the qualifying income, the lender must document a nontraditional credit history for each borrower without a credit score. See B3-5.4-03, Documentation and Assessment of a Nontraditional Credit History, for additional information.
For additional information, see B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit