Are you fearful 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 when you’ve got no credit score.

When NO Borrower has a Credit score Rating

For those who 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 embrace 12 months of rental historical past, automotive insurance coverage, cellular phone payments, utilities, and extra. It’s necessary to notice that no late funds are allowed. Moreover, this program is on the market for main 1-Four 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 present one, MortgageDepot has bought you lined.

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 whole qualifying earnings, no guide credit score sources are wanted for the opposite borrower with no rating. Which means even when one borrower has no credit score, they’ll nonetheless be thought-about for a mortgage with MortgageDepot.

If in case you have no credit score, don’t let that cease you from reaching your homeownership targets. Our versatile choices and understanding workforce are right here to information you thru the method and discover one of the best answer to your distinctive scenario. Contact us as we speak and take step one in direction of securing a mortgage with no credit score.