I went to see a mortgage guy at a bank the other day to ask him questions about pre-approval.

Asked by jillm, Bensalem, PA Thu Nov 15, 2012

He told me that because my boyfriend doesnt have any open lines of credit that he will not even be looked by the mortgage lender. He has an ok credit score from thing that he has had in the past. What do i do now to try to get us a mortgage?

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Russ Ravary, Agent, Commerce Township, MI
Wed Mar 6, 2013
One way of getting open lines of credit is to be added to a family members credit card or to open your own secured line of credit
0 votes
Gita Bantwal, Agent, Jamison, PA
Fri Dec 21, 2012
There are lenders who consider other things. Talk to another lender.I sold a house to a person who had no credit.
0 votes
Gita Bantwal, Agent, Jamison, PA
Sun Nov 18, 2012
Hi, I just sold a home to a person this month who had no credit. I had to talk to several lenders till I found one.
You can look up listings of homes in Bensalem on my web site. http://www.gitabantwal.com
Feel free to call me.
0 votes
Terry Bell, Agent, Santa Rosa, CA
Fri Nov 16, 2012
If you are interested in buying a home, I suggest that you check out the agents here on Trulia or go to some open houses and try and find an agent that you feel comfortable with. An agent can help you analyze your situation and refer you to several loan brokers who you can figure out whether you can qualify on your own or will need another parties credit to qualify for anything in that area. Sometimes it takes a little tweaking and improving your credit to get that approval you want, but you need to set up a team to help you make your goal!
0 votes
jillm, Home Buyer, Bensalem, PA
Fri Nov 16, 2012
ok heres the other part that i left out. should have included it.. sorry. I do not have a realtor. I had one but he was no help to me at all. I felt like when i asked him anything he was always very discouraging and thought i wasnt serious. So, now i have no pre approval and no realtor. ugh! This is probably the hardest thing i have ever done. It's just hard because of course i work full time job plus part time job plus have a baby. Every time i get a few minutes i am calling a new mortgage person or realtor.

Just want to find one and stick with them. Just want someone to take me seriously and answer whatever dumb questions that may come. ( and beliee me there are a lot)

I want someone to know that i fight for what i want and I get things done one way or another.
0 votes
Hello Jill,
My office is on Street Rd in Southampton ( at the corner of Second St Pike. I'd be happy to meet you and your boyfriend and get you where you need to be. As long as you are serious I will get you approved.
Give me a call this weekend
Alan Openshaw
Cornerstone Lending Inc
267 992 7276
Flag Sat Nov 17, 2012
Joshua Stein, Agent, Conshohocken, PA
Fri Nov 16, 2012
Does your agent have someone that they can recommend you talk to? Different lenders have different requirements, so it could just be a matter of finding the right one.

If he does need to have more current information on his credit report to qualify, opening up a secured credit card account may be sufficient. Lenders should be able to give you some guidance on what you may need to do to qualify for a loan if you are not quite there yet.

I'd be happy to suggest a name or two if you would like.

Joshua Stein, REALTOR®
Coldwell Banker Preferred - Conshohocken
Office:(610) 828-9558 * Cell:(215) 866-8030
Direct:(484) 270-1165 * Fax: (215) 999-5894
PA License #RS317975

If you know anyone who needs help buying, selling or renting in the next 60 days, give me a call so I can help them meet all of their real estate goals.
0 votes
Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Thu Nov 15, 2012
Hello Jillm

Just because he doesn't have current credit that doesn't disqualify him.

Give me a call tomorrow and I'd be happy to discuss your situation. If the score is OK you may still be able to get a mortgage.

Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
NMLS ID 143960
0 votes
Mimi Davies, Agent, Santa Monica, CA
Thu Nov 15, 2012

When you're looking to be pre-approved to buy a house, you can either consult with a lender who works regularly with your Realtor (so that your Realtor can follow up regularly with them and make sure you get a good service), or you can shop around: go to your bank if you have had a good banking relationship, go to mortgage brokers who do direct lending too, ...

If you want to consult with a specialist for CREDIT scores, try American Credit repair for example http://(www.americancreditrepair.net ). Check out their contact info below...

Your goal is to get ready, so even if it takes you months to get to that point at least you will be confident that you are financially prepared.

Good luck

Larry Carnahan
Vice President
American Credit
larry@americancreditrepair.net E-Mail
http://www.americancreditrepair.net Web
http://member.merchantcircle.com/americancredit Web
http://www.linkedin.com/in/lcarnahan LinkedIn
0 votes
Anna Domzals…, Agent, Langhorne, PA
Thu Nov 15, 2012
I suggest talking to a couple different mortgage lenders, visit a few different banks and talk to your real estate and see if they have someone that they can recommend. Your goal is to find someone who can either help you or give you tips of what you can do to be able to obtain a mortgage in the future. If you don't have an agent, feel free to give me a call and I would be more than happy to help you.

Anna Domzalski
Keller Williams Real Estate
(717) 858-2075
0 votes
Joe Cordova, Mortgage Broker Or Lender, Marlton, NJ
Thu Nov 15, 2012
I would suggest speaking with a licensed mortgage loan officer. In this situation, I would have recommended an FHA loan. Especially if you are buying the house together and you have tradelines on your credit report. If it will be just in his name he can use non-traditional credit. Rent payments and two other tradelines are sufficient.

Best of luck to you! Please feel free to call or email me and I can explain the FHA mortgage options you may be eligilbe for. Thanks.

Joseph S. Cordova
NMLS# 146855
Evesham Mortgage, LLC
22 South Maple Avenue
Marlton, NJ 08053
office: (856) 985-9944 ext. 103
direct fax: (206) 333-0946
cell: (856) 304-2381
Apply online at: http://www.joecordova.com
0 votes
Thanks... I guess that helps. we are planning on buying together but this guy scared me and told me if he has nothing open then we shouldnt bother even applying. we were going to do an fha loan and have money for the down payment. BTW, he doesnt even have non traditional credit. he lives with his cousin and that place is in his cousins name. cell phone is metro pcs (month to month, no bills).. Do you think he should try to open a credit card?
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