No Credit Required Home Loan

No Credit Score Home Loan

No Credit Score Home Loan

No, you did not just travel back to 2003 and the “anything goes” mortgage era.   There really is a home loan option for those who do not have a credit score.  If you think this sounds like the “have a pulse/get a loan” mortgage products from the wild wild west mortgage days of the early 2000’s you are I get it.  It did to me too.

Today, with regulations such as Dodd Frank and TRID in place mortgage lenders would seal their own fate if they offered reckless product like the “No Income No Asset” loans of the past.  Instead, this No Credit Score Needed loan product allows consumers that do not have a credit score to possibly finance a new home while also responsibly and thoroughly qualifying them for a home loan they can afford.

An Alternative to “Credit”

Some consumers choose to live a debt free life.  Other home-buyers are fresh out of college and have very little credit.  Not having a credit score (which is a byproduct of not having enough credit history) does not mean someone is a bad credit risk.  In fact, no credit is FAR better than bad credit by a long shot.

Those with no credit scores can now prove their creditworthiness by documenting at least 4 debts they pay on time.  For example, a no credit score home buyer can document they pay rent, car insurance, a cell phone bill and their gym membership on time.  Mortgage Lenders will consider this “alternative credit” in lieu of a more traditional credit profile and credit score.

All Other Mortgage Rules Apply

The special feature this loan offers is a detour around the no credit score pothole.  However, a consumer using this loan to finance their home will still be required to meet standard employment, income, debt to income and asset requirements associated with other loan products in today’s marketplace.

By Jeremy House


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Jeremy is the Founder of The HOUSE Team and a Sr. Loan Officer/Branch Manager with PrimeLending. Over the past several years he has ranked in the top 1% of all loan officers nationwide and one of the top 200 loan officers in America. In the mortgage industry, the devil is in the details. Jeremy prides himself on being a student and an expert when it comes to everything mortgage related.

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  1. I really do like that you can still get a home without credit. Often, I think that a lot of people don’t understand that is possible. However, if you have the money, most companies will work with you. Do you have any other tips about getting a home without credit?

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