You can get a mortgage with no money down, and the rate is still good. I am a mortgage broker, and we do not rip everyone off, like the first person says. The problem is not the down payment, it is no credit score. Some programs allow you to build a credit score by showing phone bills etc. This is a possibilty, email me for more information on that. Personally I would open up a small credit card and pay on it for two months, and then your score may show up.27% for mortgage purposes is fine, after the mortgage is included they like it under 45%. They problem once again is not the debt ratio it is no credit score. If this is your debt ratio, only showing your income and not your husband, you have a chance at buying a house, even without a credit score.
|