Is it possible to get a mortgage with no credit?
My g/f are looking into buying a home of our own. neither of us have credit. we pay for everything in cash. we have 0 debt. no car payment nothing. we between the both of us we have been renting for about 3 years. we have never been late on a payment. with all this talk about “credit scores” and that it can save you thousands of $ $ $ if you know it, i am not sure how easy it is going to be to actaully get that much money loaned to us. we also will have a 10-15k down payment right off the start. oh i should also say we are both 21 also. so does anyone know if i can even get a mortgage?
may i also add that we have been paying for rent via check. not cash. good lord.
one last thing. i dont want a credit card, or want to have a smaller loan for something like a car. if i want something i am going to pay for it in cash. but a house now that i need some help on. but cars and other things are paid for in cash. mine when i drive it off the lot.
also i have ran both of our credit scores at my bank. they both came up blank. nothing. nodda, no history. is that bad?
were both only 21 so we both dont have that long of a job history. but she has only had 2 differnt jobs in 6 years, and i have only had 2 differnt jobs in 6 years. neither of us have ever been unemployed. and we both work for big good paying companys.