Taking a home loan when you yourself have no credit rating or borrowing get is possible, but finding a loan provider and you will convincing her or him you could pay the brand new loan will demand a little extra work with their area.
That have zero borrowing from the bank, called being «borrowing hidden,» function you do not have enough present borrowing from the bank hobby to get an effective credit score. As the checking a credit rating is often the 1st step lenders get whenever comparing their creditworthiness, the possible lack of a credit score can complicate the mortgage application processes.
You will find several activities conducive in order to lack of borrowing. (más…)