Selling Guide

Published April 07, 2021

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How many nontraditional credit sources are required for a borrower without a credit score?

Number of Nontraditional Credit Sources Required

The number of nontraditional credit sources that must be documented for a borrower without a credit score differs depending on the underwriting method and loan product, as described in the table below:

  Number of Nontraditional Credit Sources Required
Underwriting Method Loans other than HomeReady Loans HomeReady Loans
Manually underwritten loans
  • Four sources for each borrower without a credit score

  • Three sources for each borrower without a credit score
  • If there is a borrower on the loan without a credit score who cannot document a nontraditional credit profile (because the borrower has no nontraditional credit sources), the transaction is still eligible, provided no more than 30% of the qualifying income for the mortgage loan comes from that borrower.
Loans underwritten through DU
  • If no borrower has a credit score
    • at least two sources for each borrower
  • If the borrower(s) with a credit score contributes
    • 50% or less of qualifying income, at least two sources for each borrower without a credit score.
    • more than 50% of qualifying income, then no nontraditional credit history is required for the borrower(s) without a credit score.

For additional information, see B3-5.4-02, Number and Types of Nontraditional Credit Sources

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