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Are you apprehensive about getting a mortgage as a result of you don’t have any credit score historical past? Look no additional! At MortgageDepot, we perceive that not everybody has a conventional credit score rating. That’s why we’re right here that can assist you safe a mortgage even in case you have no credit score.
When NO Borrower has a Credit score Rating
In case you don’t have a credit score rating, don’t fear! MortgageDepot considers debtors with no credit score. To qualify, we require a minimal of two non-traditional credit score sources. These can embody 12 months of rental historical past, automobile insurance coverage, cellular phone payments, utilities, and extra. It’s essential to notice that no late funds are allowed. Moreover, this program is out there for main 1-4 unit properties solely, and all debtors should occupy the property. Whether or not you’re trying to buy a brand new house or refinance your current one, MortgageDepot has bought you coated.
When One Borrower has a Credit score Rating
In some circumstances, one borrower could have a credit score rating whereas the opposite doesn’t. If this is applicable to you, MortgageDepot can nonetheless assist. For main one-unit properties, all debtors should occupy the property. If the borrower with a credit score rating contributes greater than 50% of the entire qualifying earnings, no guide credit score sources are wanted for the opposite borrower with no rating. Which means that even when one borrower has no credit score, they will nonetheless be thought-about for a mortgage with MortgageDepot.
If in case you have no credit score, don’t let that cease you from attaining your homeownership targets. Our versatile choices and understanding workforce are right here to information you thru the method and discover the perfect resolution to your distinctive state of affairs. Contact us at present and take step one in the direction of securing a mortgage with no credit score.
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