Posted on: 08th Jun, 2009 05:53 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
Hi JasonH,
As you do not have a credit history, lenders are not willing to give you a loan. In today's market situation, if you do not have a good credit history, lenders will not even consider giving you a loan. It is good that you're opening a credit card asap but it will take some time to build your credit. Moreover, I appreciate the fact that you do not have any other major bills to pay. All this will have a positive effect on your credit.
I would suggest you to be patient enough and build your credit first and then look out for loans.
Thanks
As you do not have a credit history, lenders are not willing to give you a loan. In today's market situation, if you do not have a good credit history, lenders will not even consider giving you a loan. It is good that you're opening a credit card asap but it will take some time to build your credit. Moreover, I appreciate the fact that you do not have any other major bills to pay. All this will have a positive effect on your credit.
I would suggest you to be patient enough and build your credit first and then look out for loans.
Thanks
JasonH
Welcoem to the forum.
How long do you have the credit history for and for sure all these utility companies must have run some credit check/
Please share
Good luck and feel free to ask
Welcoem to the forum.
How long do you have the credit history for and for sure all these utility companies must have run some credit check/
Please share
Good luck and feel free to ask