re: House Mortgage Question

quote:

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They looking to buy a house but he has no credit but she has great credit. He just never owned a credit card or gas card.

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I did the following and highly recommend it. In 6 months, it will boost HIS credit score. In 1 year, it wouldn't surprise me if his credit score is as good as his wife's:

(Oh yea, DEFINITELY do not have him get a credit card or gas card)

1. Go to the bank and open up $ 1000 (or more) CD
2. Take a 6 month loan out against the CD
3. Have the bank setup a new checking account to only be used to auto pay the loan every month (including any fees)
4. After 6 months, the paid off loan gets reported to the credit bureaus
5. Result: credit score jumps tremendously

6. (optional: after 6 month loan is paid, repeat the process for another credit score jump)