Aug 14, 2009
No Credit Mortage - Can I Get Help With a Low Interest Rate?
AUTHOR: Colin Keller
A no credit mortgage is not the easiest thing to do but it can be done. There might be a lot more paperwork and a higher interest rate but there are companies who do a no credit mortgage. Please realize that mortgage lenders use a credit score to determine the amount of risk that a borrower has for defaulting. If you have no credit at all, they are going to think you are a very risky borrower. This may or may not be the case but this is how they see it. This will mean that you will get a higher interest rate than most mortgages but it will give you the chance to own a home.
You have probably seen advertisements on the Internet and television for these types of services. Most of the ads lead to an 800 number where you can contact a representative. While you may not want to tell the representative your entire life story, it might be a good idea to at least give them a call and ask some common questions. The fact that you are a new customers might make them consider a deal for you.
Congratulations on taking the first step in getting a no credit mortgage. The next step is to get out there and contact some of the mortgage lenders that offer this service. You will never know what type of interest rate you can get if you don’t ask!