Posted on: 05th Aug, 2008 04:02 pm
First Time homebuyer no credit, no doc, no FICO can a purchase take place
Is it possible for a first time home buyer to purchase a home, no credit, no doc, no FICO score, can a purchase take place?
Is it possible for a first time home buyer to purchase a home, no credit, no doc, no FICO score, can a purchase take place?
I don't know of any lender who would do that one right now and probably not for a very long time to come. Your best bet will probably be to go FHA down the road. But that is a full doc loan.
Agreed. You really need to come up with a plan to build a credit score for yourself. If you have no credit at all you might be stuck with applying for a secured credit card where you put some of your money down as collateral for a line of credit. Yes it's just like spending your own money but in a way that will help you to establish your credit. Usually after you've made on-time payments for 6mnths to a yr you can get your deposit back and be upgraded to an unsecured credit card. There are also a lot of auto dealers that will work with people that have no credit. Just some options to consider...
Best of Luck
Best of Luck
No fico yes with non traditional tradelines
No employment no income NO way
You have to have 2 years employment and income with a good debt to income ratio.
Good Luck
B
No employment no income NO way
You have to have 2 years employment and income with a good debt to income ratio.
Good Luck
B
