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SVTPerformance's Chain of Restaurants
Road Side Pub
N/A credit score.
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<blockquote data-quote="Torch10th" data-source="post: 15491637" data-attributes="member: 15703"><p>While I don't completely agree with On D Bit on his credit stance, if you literally have no credit, there's not much you can do about it right now if you needed to have it. His suggestion to find a mortgage company that will manually underwrite you is necessary at this juncture.</p><p></p><p>Starting now, you can build credit, but it takes years. It's not like you can go out, get a credit card and all the sudden you have a 750 credit score. Your score is a combination of utilization habits, debt ratios, length of credit history, number of accounts etc. It doesn't happen over night. </p><p></p><p>This same issue happened with one of my father's employees about 10 years ago. Him and his wife did well and had zero debt. Paid cash for everything. When they got tired of renting and wanted to purchase a house, they didn't have enough cash for that so they went the mortgage route. In the end they ended up having to build credit for a couple years before they were able to qualify.</p></blockquote><p></p>
[QUOTE="Torch10th, post: 15491637, member: 15703"] While I don't completely agree with On D Bit on his credit stance, if you literally have no credit, there's not much you can do about it right now if you needed to have it. His suggestion to find a mortgage company that will manually underwrite you is necessary at this juncture. Starting now, you can build credit, but it takes years. It's not like you can go out, get a credit card and all the sudden you have a 750 credit score. Your score is a combination of utilization habits, debt ratios, length of credit history, number of accounts etc. It doesn't happen over night. This same issue happened with one of my father's employees about 10 years ago. Him and his wife did well and had zero debt. Paid cash for everything. When they got tired of renting and wanted to purchase a house, they didn't have enough cash for that so they went the mortgage route. In the end they ended up having to build credit for a couple years before they were able to qualify. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
N/A credit score.
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