Home Buying in Twin Falls>Question Details

bloody_tears…, Home Buyer in New York, NY

I am 20 years old and have no credit. But I want to buy a house now. What are my chances of getting financed?

Asked by bloody_tears_92, New York, NY Wed May 22, 2013

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Depending in the area you looking there maybe a chance. There are different loan programs out there. In the market I work in there are loan programs that work of non-traditional credit. For an example if you have three types bills that can be tracked and have a paper trail for the last 12 months you may still be able to purchase a home. Phone bill, Rent, store credit, utilities and such are examples of what can be used as non traditional credit. Employment history is also important. Again this is what local loan programs in the my market are able to do. If you are looking in Southern Idaho feel free to contact me for further questions or see how I can help.
0 votes Thank Flag Link Wed May 22, 2013
Probably not good if you have never had an account that reported to a credit bureau. If that is the case open a couple of credit cards ASAP and don’t charge more than $20 on them, but always have some activity every month.

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Wed May 22, 2013
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