I primarily deal with first time home buyers in the Charlotte area. The question I often get "Can I get approved for a Mortgage with no credit?" Well the answer is yes. As more and more people are flocking out to take advantage of the tax credit for first time home buyers; that question seems to be looming more and more.
I have seen an influx of people trying to find a home under the tax credit deadline. With a month to go before you lose the tax credit; people are looking for homes. Some are just thinking and not sure. I hear a lot I have no credit history so I cannot get a mortgage right now until I establish some credit. Not necessarily. I work with a mortgage professional that can get people approved with no credit history in the Charlotte area. In fact, I have helped make home ownership available to over 10 families in the past year that had no credit history at all.
The banks are requiring a little more information from you in regards to information but the possibility of home ownership is still out there for people with no credit history. As banks have tightened credit standards from the mortgage fallout that has busted the housing bubble...there is a glimmer of hope for people with no credit history.
With less than thirty day to go to get under contract for a house now is the time you need to be seeing if you can get approved for a mortgage and how much you would qualify for.....going out there armed with a pre-approval letter from a mortgage professional carries a lot of weight in your negotiating power today.
So, if you have no credit and not sure you can get a mortgage rest assured there are programs out there that can help you.
Dave dicecco
Realotr/Agent
www.davedicecco.com
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