I have 0 (yes, zero) credit. Can you still help me?

Hi Brenda, I am a real estate agent and a mortgage loan officer. I have a lender that can do your loan with no credit score. So, yes. You can get a mortgage with no credit! =) You just need three alternate trade-lines that you have paid on time for at least a year. Here is a list below of bills that will work. Please let me know, if you have any questions. The typical alternate trade-lines: Cell Phone Bills Landline Phone Bills Utilities (Gas, Electric, Water & Sewer) Garbage/Trash Removal Auto Insurance Renter’s Insurance Furniture store rentals/leases Rent (for home) Storage Unit Rentals Other loans from companies that do not report to credit bureaus Gym membership Day care After School/ Extracurricular programs (dance, martial arts, etc.) Medical/Dental payment plans

You need to establish credit. You need to have 2-3 active accounts that report to the 3 main credit bureaus. If you have a hard time getting someone to give you credit, you may try a secured credit card and keep the balance to 1/3 of the high credit limit to obtain the highest scores. You can also try a finance company and open a small personal loan. The size of the payment is not as important as consistenly making the payments on time. good luck!!

Zero credit can be better than bad credit. You may be surprised however that you may have something called "non-traditional" credit. This can be utilities, cell phones, rent that may not report to the credit bureaus but lenders can used to supplement what traditional credit you will need to obtain a mortgage. Start by asking your bank for a "secured" credit card. If you deposit $200 you will have a $200 credit limit. Use this, but pay it off regularly and request higher limits later on. If you can't wait but have a large down payment, there are lenders who offer short term, high rate loans, but these are expensive. Only consider this if you have an unbelievable deal and confirmation that you will be able to qualify for conventional financing in a few months.

Hi Brenda, The best answer still needs more clarification from you. First of all, have you had your credit report pulled recently that you have seen and discussed with a professional? When you say you have 0 credit does that mean that you have never borrowed or owed a creditor? or is your credit just not so good and needs to get cleaned up, repaired etc. Mortgage companies/good mortgage rep can explain what your credit report says and if there are items that you can take care of. The important thing is don't avoid a discussion with a professional who can give you direction to reach your goals. I believe in goal setting when there is something you would like to achieve. Hope this helps. Hellen

It is possible; but not easy. The last time I had this issue with a client we had to work with the mortgage company to "create" at least three tradelines using things like their rent receipts, phone bill and utility bills.

I actually had a client that had zero credit but together with a great lender I work with we able to establish a game plan and she closed on her first home a few months ago. I would love the opportunity to discuss your situation one on one with a lender to help you get you on the right track to home ownership. No pressure, no obligation, and no strings attached. Mandy Strong

Yes. It is possible to have a credit score even though you have not had any credit. It would likely not be good, though. So what I would like to do is talk to you and introduce you to a good lender that can recommend a course of action for you to use to improve your credit rating. Not having any credit is better than bad credit:). There is no obligation to work with me, of course. Bob Vergeer

You will need to establish credit before you can buy. Get a credit card or a personal loan and start using it. You can always juts pay it off each month so you dont have a balance but you need to do something to get your credit established. Good luck!