me and my boyfriend need to get a loan for a condo but we have no credit and he doesnt want to use a credit card so we need to know other ways we could establish it for them to consider giving us the loan
2006-08-13 06:22:42 · 17 answers · asked by joesgirl3588 1 in Business & Finance ➔ Credit
establish credit by not being in debt and paying for everything ON TIME
2006-08-13 06:25:05 · answer #1 · answered by Anonymous · 1⤊ 0⤋
There are other ways to establish credit, paying your Gas, Electric and such start the process, if you have a home phone or a Cell phone those also so responsibility in paying your bills.
Go to a bank or your bank and get a small once again I state a small personal loan that you can pay back in 6-8 months with no problem. This is a great way to start a relationship with a bank and lending company.
2006-08-18 06:53:00 · answer #2 · answered by CrzyCowboy 4 · 1⤊ 0⤋
Try a new home buyer's plan. They prefer no credit history or minimal credit history. Also try the USDA home assistance plan if you are low income or HUD new home buyer's loan packages. you can find the sites using a Yahoo search engine. Financing a car is the other alternative to getting credit card to build credit. It's an installment type loan, after it is paid off it looks great to prospective creditors. You can get pre qualified to purchase a home through HUD or USDA or FHA in advance of searching for a condo.
2006-08-16 08:23:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Joining a credit union is the best way and the best place for us to get loans. They are more lenient than banks and you don't have to be a member forever to get the loan. My daughter (20 at the time) joined and applied for a car loan the same day and was approved within 10 minutes.
One of your family members has to be a member or your job or his job in order for you to join.
Best wishes.
2006-08-17 08:27:36 · answer #4 · answered by Dancer3d 4 · 1⤊ 0⤋
theres many who will help you establish your credit by the purchase of your condo. if your realtor wont help fire them and make sure to put in the contract they do assist you in working with mortgage companies geared toward bad, to no credit buyers. Good Luck
2006-08-13 06:29:11 · answer #5 · answered by Mr Spock 4 · 0⤊ 0⤋
If you have ever financed a car, or anything else, and have been faithful in your payments, this is also a reflection on your willingness to meet financial obligations in a timely manner.The only thing is, you can do this in a couple of months time.It has to be at least a year, or two.You have to have a good track record for others to see.
2006-08-13 06:28:43 · answer #6 · answered by WC 7 · 0⤊ 0⤋
Find a lender that will help you "build" your credit. They will go to everyone you pay monthly and get information to help you establish a credit history. The following can be used if they are in your name: cell phone, home phone, electric bill, water bill, gas bill, and rent history. Keep asking. You will find a lender that will help you.
2006-08-17 00:34:47 · answer #7 · answered by Big Bama Fan 2 · 1⤊ 0⤋
I think you can get it from utilities.
It will help your credit if you get a card and never use it, and have a 0 balance every month.
2006-08-13 06:29:45 · answer #8 · answered by JoeIQ 4 · 0⤊ 0⤋
buying a car. buying furniture. buying electronic equipment. think twice before buying a condo with your boyfriend. what happens if you get in a huge fight and break up. then somebody is stuck with paying the mortgage on the condo.
2006-08-16 12:20:49 · answer #9 · answered by koifishlady 4 · 1⤊ 0⤋
get a cell phone plan. open a checking account at get over-draft protection. apply for a student loan. work hard, deposit money in checking account, then apply for loan from a bank.
2006-08-13 06:26:49 · answer #10 · answered by Nick M 3 · 2⤊ 0⤋