Posted on: 08th Jun, 2009 05:52 pm
I am having a hard time finding a lender for a home loan for a house around 180k and I am willing to put down 20%? I have no Credit because I have never had a credit card, nor owned a house or vehicle. I have good standings with multiple sources (At&t, DirectTV, Power, Water etc...2 years of statements). I make 65k a year (show taxes for 3 years) and do not have any major bills. Is there a lender out there that would fit my needs. I am a little confused on why I am having troubles obtaining a loan. And yes I am opening a credit card asap to start to build my credit, but because of the situation I am in, I need the loan very fast. Thanks for any help with my loan.
Location: Jacksonville, Florida
Location: Jacksonville, Florida
JasonH
Please check your otehr post. Its been answered. Please respond to it.
Good luck and feel free to ask
Please check your otehr post. Its been answered. Please respond to it.
Good luck and feel free to ask
Hi Jason,
It is not easy to get a loan without a credit score and a payment history. But it should not be impossible. You may not have got a credit card or a car loan to establish your credit, but if you have paid your utility and other bills on time, it should be enough to establish your payment history. If you have been current on your bills, it should work in your favor when your lender approves your loan. I think you can go for a no-obligation free mortgage consultation with the community lenders. They will assess your financial situation and other factors and will offer you suggestions on whether and how you can qualify for a loan without a credit history. They will also be able to suggest you what type of mortgage will fit your needs.
It is not easy to get a loan without a credit score and a payment history. But it should not be impossible. You may not have got a credit card or a car loan to establish your credit, but if you have paid your utility and other bills on time, it should be enough to establish your payment history. If you have been current on your bills, it should work in your favor when your lender approves your loan. I think you can go for a no-obligation free mortgage consultation with the community lenders. They will assess your financial situation and other factors and will offer you suggestions on whether and how you can qualify for a loan without a credit history. They will also be able to suggest you what type of mortgage will fit your needs.
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