Getting a Mortgage with No Credit

Are you worried about getting a mortgage because you have no credit history? Look no further! At MortgageDepot, we understand that not everyone has a traditional credit score. That’s why we are here to help you secure a mortgage even if you have no credit.

When NO Borrower has a Credit Score

If you don’t have a credit score, don’t worry! MortgageDepot considers borrowers with no credit. To qualify, we require a minimum of 2 non-traditional credit sources. These can include 12 months of rental history, car insurance, cell phone bills, utilities, and more. It’s important to note that no late payments are allowed. Additionally, this program is available for primary 1-4 unit properties only, and all borrowers must occupy the property. Whether you’re looking to purchase a new home or refinance your existing one, MortgageDepot has got you covered.

When One Borrower has a Credit Score

In some cases, one borrower may have a credit score while the other does not. If this applies to you, MortgageDepot can still help. For primary one-unit properties, all borrowers must occupy the property. If the borrower with a credit score contributes more than 50% of the total qualifying income, no manual credit sources are needed for the other borrower with no score. This means that even if one borrower has no credit, they can still be considered for a mortgage with MortgageDepot.

If you have no credit, don’t let that stop you from achieving your homeownership goals. Our flexible options and understanding team are here to guide you through the process and find the best solution for your unique situation. Contact us today and take the first step towards securing a mortgage with no credit.