Can I Qualify for a Mortgage with No Credit History?
If you have no credit history (including no credit card debt or other past loans), it is still possible for you to qualify for a mortgage. Many lenders will be unwilling to work with you due to the difficulty in determining your capacity to repay a mortgage.
You can try to submit an alternative payment history to make up for a lack of credit history. For example, you might consider submitting your rental payment history as proof of your capacity to repay your obligations.
Not all lenders will accept your alternative payment history. You may need to work on slowly building your credit history instead.
- What Is Included in a Mortgage Application?
- How Long Do Mortgage Applications Typically Take to Complete?
- Can I Submit Multiple Applications?
- Does Applying for Multiple Mortgages Affect My Credit?
- What Are Some Benefits of Shopping for a Mortgage?
- What Can I Do If My Application for a Mortgage Is Denied?