This is How You Can Buy A House With No Credit
How can you buy a house with no credit? Some people don't like #creditcards and pay for everything with cash. This means that they have no credit history. Of course, there is also the upcoming generation who haven't had the opportunity to build credit but want to buy a house. They have nothing negative against them, just again--no credit.
So, how is it possible to make owning a home a reality if one is young or an individual just doesn't believe in going into debt for everything? According to more reasonable lenders, no credit doesn't mean you can't buy a house. You can buy a house with no credit, but it can take longer for the process to complete and it can be more stressful as well.
How to Buy a House With No Credit:Pay Cash
Do you have the money to pay for a house outright? If so, go for it! Many people don't have credit because they pay for everything in cash. If not, start saving and try it this way.Start Building Your Credit Now
Look into credit cards, payday loans, and other purchases that are easier to get into. If you have established work history, buying a car might be a good first step. Show the mortgage companies that you're reliable and they'll be more likely to help you out. There are also some special programs where your credit may not matter as much. Look into Rent to Own OptionsRent to own
can be a great opportunity to establish some credit while you begin paying for the house you want to live in. Don't rule this out unless you don't think you can afford it - in which case, you're not quite ready to buy anyway.
While having great credit is the easiest, there are other ways to purchase a new home. Talk to your banker, real estate agents, and others who might be able to give you some ideas as to how you can buy a home!