Are you anxious 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

If you happen to 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, automotive insurance coverage, mobile phone payments, utilities, and extra. It’s vital to notice that no late funds are allowed. Moreover, this program is accessible for main 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 current one, MortgageDepot has obtained you coated.

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 main one-unit properties, all debtors should occupy the property. If the borrower with a credit score rating contributes greater than 50% of the full qualifying earnings, no guide credit score sources are wanted for the opposite borrower with no rating. Because of this even when one borrower has no credit score, they’ll nonetheless be thought of for a mortgage with MortgageDepot.

In case you have no credit score, don’t let that cease you from reaching your homeownership objectives. Our versatile choices and understanding group are right here to information you thru the method and discover the most effective answer to your distinctive scenario. Contact us right this moment and take step one in direction of securing a mortgage with no credit score.