Financing in San Bernardino>Question Details

julieallen50, Home Buyer in San Bernardino, CA

What do you do when you own a house outright, have a $100K downpymt, but no credit to speak of (everything has always been paid for)?

Asked by julieallen50, San Bernardino, CA Sun Oct 7, 2012

I own my home, have total equity & can get approx. $140K. But because I never wanted any pymts for anything, I've always had everything paid for when we got it. How do I change that?

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Answers

2
Julie,
Have you met with a lender yet? Lots of people have non-traditional credit, cell phones, utility bills etc. This non-traditional credit and your equity you may qualify for financing.
What type of loan were you looking for? If you are looking to generally build credit, start with your bank or credit union. Ask about a secured credit card, if you don't qualify for one outright.
0 votes Thank Flag Link Sun Oct 7, 2012
Julie,
A lot of differant factors would come into play here;
Your income, the price of the home you would be buying, etc. If you would like a consultation, please email me at: tespie@kw.com
Tricia Espie - Realtor
0 votes Thank Flag Link Sun Oct 7, 2012
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