How can I get a loan without owning a home with a fair credit score?

Answer 1

your interest rate might be high and it depends on how much the loan is for and for what.
but the good thing about getting the loan is that your credit will go up as you pay it (on time)
i have a loan at american general, i don't know if there is one where you are, the interest rate is ridiculous
like 20% but every month our credit score goes up, and up.

Answer 2

You can't get a very large loan unless it's a student loan. If you only have a fair credit score you'll probably have to go to American General or Beneficial. They have high interest though.

Answer 3

If you don't have a FICO score it just means you aren't in debt! Good job!!

You need a manual underwritten mortgage. Go to your credit union, they love people like you. They will have to verify with your landlord your payment history, your work history, etc. Everything manually.

For more information: http://www.freddiemac.com/singlefamily/news/pdf/manualunderwritingsalestips.pdf
And
http://realtytimes.com/rtcpages/20030623_mortgageunderwriting

You should not get a higher rate because you have no FICO score. You need to specifically ask for a manual underwriting.

Also try Churchill Mortgage http://www.churchillmortgage.com/ they do manual underwriting.

Answer 4

you should refrase your question - if you want a home and do not have a credit score - go with an fha loan - need 3% down

Answer 5

yes you can start by having a credit card and establish good credit.this my take time and don't apply to many times, to may times they cheek you credit rating is not a good thing.

Answer 6

Your intrest rate will be affected but yea

Answer 7

yes you can

Answer 8

dont know