What is non-traditional credit?
Nontraditional credit refers to credit information that is not typically included in a traditional credit report from major credit bureaus.
Can I apply for a new credit card even though I am under contract to purchase a house?
Yes, but I would highly recommend against it.
I am selling my home on the 8th of the month, should I make my mortgage payment due on the 1st?
It depends. Many mortgages have a grace period between when the payment is due and when it's late.
What does Cleared to Close mean?
"Cleared to Close" in the mortgage process means that the lender has reviewed and approved all the documents and conditions required for the loan.
Can my bonus income count toward mortgage qualification?
Yes, bonus income can count towards mortgage qualification if it's consistent over two years, documented on paystubs and W2s, and verified by your employer.