Aug 3, 2009
No Credit Mortgage - Can You Get a Low Rate with No Credit?
Getting a no credit mortgage is not very easy but it can be done. The reason most people want to get a no credit mortgage is because they either have no credit or their credit is so bad that they do not want the lender to know. If either is the case, it is unlikely that you are going to get an extremely low mortgage rate but it does not mean you can’t get a reasonable mortgage rate. There are going to be a few extra steps you have to take, but you can still work with mortgage lenders to get something acceptable in your eyes.
There are several companies that cna help you get through this process if you just look for them. It is highly likely that you have seen advertisements on television and the Internet for these types of services. Many of the ads lead you to an 800 number to speak to a representative. While you may not want to give the representative all of your financial information, it would be wise to call them and ask some questions on how the process works.
Congratulations on taking the first step in getting a no credit mortgage. The next step is to actually contact some of the companies that offer this service. You never know what type of mortgage rate you are going to get if you do not call and ask. The process will be much easier once you figure out how things work!