No Credit? No Problem!

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CHARLOTTE – Many people believe that if they do not have credit, then they cannot be extended credit and that is simply not true.  As the old saying goes, “no credit is better than bad credit.”  That can be abundantly true in mortgages in a couple different instances.  In the first instance, if your spouse (or anyone you are purchasing the home with) has a credit score, then the loan will simply be based on the individual that has the credit score and the person with no credit can still use their income to help qualify.  In the second instance, if the individual with no credit is looking to purchase on their own, they can do so by showing “alternative tradelines,” like rent, insurance, etc.

Then of course the last option for an individual with no credit is to build credit.  Usually, to build credit it would take about 1-2 tradelines, can be as simple as a secure credit card, and then a waiting period of about 45-90 days.  As long as balances are kept low and all payments made, then a good reporting score should occur within that time period.  All in all, if income is stable and the main obstacle is no credit, many times that is no obstacle at all!

If you are to have any questions with credit (building or fixing), feel free to call/text/email: / (704) 430-6138.

I hope this helps!

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Brandon Wolf
Brandon was born and raised in the Mint Hill area and graduated from Independence High School. He went on to play college baseball at Wingate University. Brandon met his wife at Independence HS, dated all through HS, college and got married right after college (they have a little boy due in September). Brandon has been a Mortgage Loan Officer, in Mint Hill, for over 7 years. "Mint Hill is more than the place I work, it's been my home. I grew up, played baseball, met my wife. I truly love helping people get mortgages in this town I have always called HOME" says Brandon.