“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
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.