Are you nervous about getting a mortgage as a result of you haven’t any credit score historical past? Look no additional! At MortgageDepot, we perceive that not everybody has a standard credit score rating. That’s why we’re right here that can assist you safe a mortgage even you probably 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, cellphone payments, utilities, and extra. It’s necessary to notice that no late funds are allowed. Moreover, this program is on the market for major 1-4 unit properties solely, and all debtors should occupy the property. Whether or not you’re seeking to buy a brand new dwelling or refinance your present one, MortgageDepot has acquired you lined.

When One Borrower has a Credit score Rating

In some instances, one borrower could have a credit score rating whereas the opposite doesn’t. If this is applicable to you, MortgageDepot can nonetheless assist. For major 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 handbook 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.

When you have no credit score, don’t let that cease you from attaining your homeownership objectives. Our versatile choices and understanding staff are right here to information you thru the method and discover the perfect resolution in your distinctive scenario. Contact us at this time and take step one in the direction of securing a mortgage with no credit score.