how can i obtain a home loan with no credit score and no payment history?

Answer 1

You need a lender that does manual underwriting. May be hard to find in some markets but call around. You don't need to borrow from a lender in your market.

Answer 2

If you have a strong history of paying your utility bills on time you can establish credit with a lender. Mortgage lenders ask lots of questions, not just look at your credit score. Locate a mortgage broker who can help you find the best deal for you.

Answer 3

Co-signers might work, but that depends upon lenders policy. Most of the better lenders have policies unfavorable to cosigners.

Better is to establish some credit history. Two credit lines, one of which needs to go for at least two years.

Answer 4

You need to call around to different lenders and find one that does there own underwriting and do not just go off a FICO score. Tell them because you have no debt you will be able to pay there loan back better then if you did have debt and a fico score. You will be able to get a loan but the compay has to be able to do there own underwriting for you to be approved.

Answer 5

Try Prosper.com. Join a group, it's a place where people give other people loans. If you have a good work history and can prove that you make enough money to cover your current expenses plus the loan, chances are you can get one. Good luck.

http://www.prosper.com

Answer 6

the only way to get the mortgage is to apply for FHA mortgage.
this mortgage doesn't require to have any credit score, but they will ask for alternative credit history like your utility payments, phone, car insurance and such.

Answer 7

join the military and get a VA loan...and get a credit worthy relative to co-sign with you...those are the only ways that i know of and I've done them both

Answer 8

co-signers