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home loans programs for people having no credit
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People who wish to buy a house but do not require finance to make the purchase look from banks and lenders to assist them in this regard. The first thing that most lenders analyze of potential homebuyers is their credit history which is a record of the credit cards, auto loans or current debt that people owe or have paid. The credit history results in credit scores which put the people in different categories according to their debt payments.

A person who does not have any credit card debt or other loans have what is called a nontraditional credit history which can be hard if that person approaches a mortgage lender for the home loan. The banks and private lenders only grant loans to people having a good credit score.
People can get no credit home loans by submitting their rent payments, utility bills payment and cell phone bills to establish their financial history without the need of having personal loans or credit cards. Paying your house rent and other bills on time makes you an ideal candidate get a home loan.

People who get rejected by banks and private lenders also have another feasible option of obtaining government-backed home loan programs. The no credit home loans include FHA (Federal Housing Administration) loans, VA (Veteran Affairs) loans, and USDA (United States Department of Agriculture) loans. The FHA loans are best if the person is looking to make a small down payment with low-interest rates. The VA loans are offered to war veterans and do not require any credit score requirement. The war veteran also gets the advantage of not paying any down payment or mortgage insurance premiums. The USDA loans also do not require any down payment, and a person can buy a house in the rural agricultural area.


Latest Activity: Aug 10, 2018 at 6:32 AM


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The home loans programs for people having no credi
July 27, 2018
People who wish to buy a house but do not require finance to make the purchase look from banks and lenders to assist them in this regard. The first thing that most lenders analyze of potential homebuyers is their credit history which is a record of the credit cards, auto ...
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