You are not required to have a bank account to get a mortgage - however any funds you bring in at closing (for the down payment, closing costs) need to be verified. So for that purpose you may need to open up a bank account and deposit your paychecks. However instead of using your own funds, you can get gifts from family for the down payment & closing costs. FHA mortgages are the most flexible in that aspect, and if you have a 650 score and are going with a lower down payment amount then FHA financing often is the best choice as it just requires a 3.5% down payment and all funds you need are fine being a gift from family.
Question, if you don't have a bank account - where do you deposit your paychecks? Or do you just take the paycheck down to the bank that issued it and swap it out for cash?
Shane Milne | Lending in all 50 states | NMLS #81195