“Not Having Credit Scores Doesn’t Mean You Can’t Obtain a Mortgage”

“Not Having Credit Scores Doesn’t Mean You Can’t Obtain a Mortgage”



Moving from Texas to Vermont was tough enough but once they decided it was time to buy a home, they couldn’t. It turns out these folks don’t have any credit scores which can be more challenging than credit that isn’t very good. That is just the way the rules are for most lenders.


Before I had met them they found a home that they wanted, but never bothered to get pre-qualified. They had no debts, have money in the bank, good jobs, etc. So they thought, how difficult can this be? Not sure why but their agent showed them homes for over two months. The Realtor referred them to a local bank that couldn’t help these folks. They then started calling other banks, a credit union and two mortgage brokers with no luck.


They went online searching for a solution, someone that would do a mortgage for them with no scores. I posted blogs on this topic a couple of different times, so I showed up.


We finally spoke and it didn’t take long to understand the problem and I let them know I could do their mortgage. I wasn’t sure they believed me at first, but I explained that I have done a number of mortgages for clients in the same situation.


What luck, coming came across your blog over the weekend, but even after we spoke I thought it was too good to be true. Everyone I called said they couldn’t do a mortgage for us, because we didn’t have credit scores. We thought paying cash for most everything was the way to go, it turns out, not the case at all.


One of the great things about being a mortgage broker is that I’m always looking for lenders for every imaginable niche that can benefit my clients, this is a perfect example.


Who else do you know that needs my help?


Image courtesy of stuartmiles/freedigitalphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 30 commentsJoe Petrowsky • January 22 2016 12:57PM


Good morning Joe. Only those willing to travel the road less travelled have solutions for the uncommon situation. This uncommon situation comes up often. Congrats! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) almost 3 years ago

Good morning Joe.  It seems you have a knack in getting those clients who have a unique situation.  An uncommon situation takes uncommon thinking, which is what you excel in.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) almost 3 years ago

These folks were quite smart to find you in their search, Joe.  Now, they should be well on their way to home ownership.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 3 years ago

This again shows the power of blogging and networking.  So glad you could help them.

Posted by Women of Westchester Working Together, Women helping Women get ahead (Women of Westchester Working Together) almost 3 years ago

Good morning Joe Petrowsky ,

Ahhhh...once again you show us the power of blogging and Networking! Glad to hear you could help them and they will not be proud home owners! 

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) almost 3 years ago

Thinking outside the box to get a mortgage for a client and knowing where to go is what makes you special.  Nicely done.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) almost 3 years ago

I'm so glad they found your blog. I've always thought people with no credit, no debts, money in the bank, should be rewarded not penalized. It's awesome that these folks kept asking.

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) almost 3 years ago

Hi Joe.  Your continued examples of how blogging works is inspiring.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 3 years ago

I ran into this sort of thing when I was leasing apartments.  No credit score can be as much of a  detriment as a bad credit score.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) almost 3 years ago

That's why you can never under-estimate the power of the internet!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) almost 3 years ago

Joe, good job, and glad they great buyers were able to follow their dream of owning a home!

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) almost 3 years ago

Hi Joe,

This is the most common hurdle among home buyers.. not having a credit. I think this is easier to fix than bad credit with collection and habitual delinquencies.

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) almost 3 years ago

Hello Joe,

I've run into this problem with home buyers as well (but at the start of their home search!)  It is a hurdle that can be overcome, but only a few mortgage professionals can do it...they were fortunate to find you from your fabulous blog.

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) almost 3 years ago

Simple for you Joe Petrowsky being the professional you are.  And a dream come true for your new clients.  I would love to know the ripples this couple create that bring new business to your shores.  A confirmation as to the importance of blogging as well.  Mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 almost 3 years ago

Joe Petrowsky What's really amazing is that a couple of the other mortgage brokers could probably helped them if they just knew what they had available.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) almost 3 years ago

Good morning again Joe. This is a perfect example of the expression: "seek competent advice." Well done.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 3 years ago

I have an application going right now that had this very issue, Joe Petrowsky ... hopeful Buyers should know that successful buying IS possible.  Your post goes a long way towards educating them of that ...


Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) almost 3 years ago


Just goes to show, one never knows when a blog post may answer someone's prayers.  So happy for you.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) almost 3 years ago

Joe, this post would help so many buyers who have been rejected due to having no credit.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) almost 3 years ago

Joe it is not easy but it can be done.

Also you should see the looks I get when I tell people the it is easier most of the time to fix bad credit than to get credit for someone without credit scores.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 3 years ago

Joe - this couple are fortunate that they found your blog and that you can help them.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 3 years ago

I guess when you reach the right person you get the right answer. Now I know as well.

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) almost 3 years ago


Congratulations on another success story of getting a mortgage for a customer with a very challenging situation.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 3 years ago

Joe I so agree with our friend George Souto  it's not easy but where there is a will there is a way...Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) almost 3 years ago

Joe Petrowsky I caught this post as a re-post from Beth Atalay . I just wanted to drop by and note that I did not know you could purchase a home without credit scores. Are you licensed in Texas to write loan for buyers here?

Posted by Sussie Sutton, UTR TEXAS Realtors - Rep for buyers and sellers. (UTR Texas Realtors) almost 3 years ago

Joe, they were lucky to have found you!  It does seem like they should have some credit for paying untility bills and rent and such over the years.

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 3 years ago

Creative lending is coming back.  Big banks are the worst place to start.  Generally Credit unions are fairly conservative.  Mortgage Brokers with lots of sources are the way to go.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) almost 3 years ago

Great for you and the clients they found your blog.  I had buyers who had no credit. They spoke with a local lender at a local bank. No credit cards, bank accounts. They went to the bank their paychecks were written on to cash. Used money orders to pay bills or hand paid in person. It was only a 3 day delay after opening an account at the lending bank. Got it closed and happy campers. That was a good reason for no credit. They had the money in 401s.


Posted by Theresa Akin (CORPUS CHRISTI REALTY GROUP) almost 3 years ago

Thanks for sharing this story. It is good to know that mortgage products are available for those who have no credit scores.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 3 years ago

Were rates and fees for their loan comparable to traditional mortgage loans?

Posted by Wayne Johnson, San Antonio REALTOR, San Antonio Homes For Sale (Coldwell Banker D'Ann Harper REALTORS®) over 2 years ago