Found 1 blog entry tagged as Getting a Mortgage.

FHA mortgages don't require a credit history -- or even a credit score

Getting A Mortgage When You Have No Credit

First-time home buyers face challenges that more experienced home buyers do not.

For example, a first-time home buyer may not be able to show the same stable work history that a more experienced buyer can show; and a first-time home buyer not have as much money saved.

But, perhaps, the biggest difference between a first-time home buyer and an experienced one is that first-time home buyers are less likely to have credit history.

First-time home buyers have had no mortgage, may own their car outright, and may reach for debit cards over credit cards when given the chance.

These three traits put first-time buyers "off the credit grid" and can make getting mortgage-approved a bit of a challenge.

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