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In the Spotlight

June 29, 2017

In the Spotlight




Can clients without a credit score get a mortgage? It's possible – and there are approximately 40 million* reasons why you'll want to learn more.




No Credit Score? Home is Still Possible!

As a real estate agent, you’ve probably met a few along the way: interested buyers who you think won’t get approved for a mortgage because they’re one of the approximately 40 million people who don't have a credit score. Their reasons for being "off the credit grid" may vary:

  • They don't like debt and pay for all their purchases using a debit card or cash.
  • They've just opened a credit card account and their history is too short to be included on a credit report.
  • If they're renters, although they may have paid their rent on time, this type of payment information is considered to be "nontraditional" and not shared with credit bureaus.

So what do you do?

Help them. Inform them. Show them how home is possible.

Clients who don't have a credit score may qualify for a Home Possible mortgage if the home they're buying will be their primary residence, they have a five percent down payment and can meet some other additional requirements.

Don't shut the door on a potential home sale. Be that informed agent who knows about the Home Possible® conventional mortgage and how its benefits fit the needs of your future homebuyers.

*Source for No Credit Score Estimate: VantageScore Solutions, LLC

Sell More Homes to "No-Credit-Score" Clients

Watch and share this video of Nadja Vital, an affordable lending manager at Freddie Mac, who explains how clients with no credit scores may qualify for a Home Possible conventional mortgage.

Be the informed real estate professional who knows that potential homebuyers don't always need a credit score to qualify for a mortgage. Help them realize their homeownership dreams with Home Possible.


Nadja Vital

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