Home prices are low NOW. Mortgage rates are low NOW.Again, if he wants to buy a house NOW, he should look into an FHA lender that will consider alternative credit. If Citi will give him a letter stating that all payments have been on time, and he has proof of the amount that is currently owed on the card, that would be one credit line. Then if he could get a letter from his landlord and/or his utility company, that would be another credit line.Why would a credit union help?Since credit unions are owned by their members, they may be more willing to work with members who have limited credit history.That I'm aware of, he has no affiliation that would gain him access to a credit union.He can join Pen Fed Credit Union www.penfed.org by making a one-time donation of $20 - $25 to one of 2 charities that they are affiliated with. And Pen Fed does FHA loans. No idea if consider alternative credit lines. Other credit unions allow one time donations to organizations like the local PTA. Other credit unions base membership on where you live. And if you happen to belong to a credit union, since he's related to you, he may be eligible for membership. I was able to join Pen Fed without having to make a donation because my mother joined in order to get her mortgage there.AJ
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