Aug 7, 2009
No Credit Mortgage - Can My Bank Help Me?
AUTHOR: Catherine Brammer
Getting a no credit mortgage is no easy task. The idea of credit is to give a bank or lending institution the chance to see how likely you are to default on a loan. If you have no credit whatsoever, you are extremely risky. If you have no credit, you are very new to the financial world and many lenders are not willing to loan you any sum of money, no less a sum the size of a mortgage payment. With that being said, there are ways around this issue. My suggestion would be to contact your local lender and see what they suggest as every financial institution is different.
You have probably seen advertisements all over the Internet and television for these types of offers. If you are truly interested in getting a no credit mortgage, it would not hurt to give these companies a call. Obviously they are trying to get your business so why not at least see what they have to offer. By giving them a phone call you can be assured that there is no commitment as you can hang up at any time.
Congratulations on taking the first step in getting a no credit mortgage. While it may not be easy to get one, there are still some options out there. Take the next step and actually contact some of the companies that offer these services.