Get a Mortgage With No Credit Score

Yes, it is likely possible for you to get a mortgage even if you have no credit score.  People are often told that they need to “build their credit” in order to get a mortgage to buy a home.  That isn’t necessarily always the case.  You can usually find lenders with options for you if you literally don’t have a credit score, or FICO, which is most often due to not having any interactions with debt in the past few years.  That’s right, despite what you may have been told, you don’t have to get a credit card or car loan to get a credit score to then get a mortgage.

The lender will most likely go through what is called manual underwriting to approve your mortgage.  That means they will be asking you for evidence that you pay your bills on time in addition to the normal evidence you need to provide like employment info, tax returns, asset verification, etc.  So they may ask for a few different utility bills or history of paying your rent on time.  They will then also look at your overall financial position to assess the risk of lending you money.  You may end up going down the path of obtaining an FHA loan in this process but you may find it beneficial to speak with a regional or smaller bank about a portfolio loan option that works for you.  Feel free to reach out to me if you need any recommendations for licensed lenders that offer programs that may work for you.

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