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Early_To_Risa@sh.itjust.works

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Anon tries to understand credit scores (sh.itjust.works)

submitted 3 weeks ago by Early_To_Risa@sh.itjust.works to c/greentext@sh.itjust.works

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[–] boonhet@sopuli.xyz 0 points 3 weeks ago (1 children)

The major difference is that you don't need to be building credit history to own a home. How do you get a mortgage in the US if you've never had ANY credit before?

[–] damnedfurry@lemmy.world 1 points 3 weeks ago (1 children)

How do you get a mortgage in the US if you’ve never had ANY credit before?

You could have googled this in less time than it took you to ask the question.

https://www.experian.com/blogs/ask-experian/can-you-get-a-mortgage-with-no-credit/

[–] boonhet@sopuli.xyz 0 points 3 weeks ago

To take part in manual underwriting, you'll need to provide the following information:

History of regular housing and other payments to creditors, such as cellphone providers, utility companies and landlords

Bank account statements to demonstrate cash savings

Two years' worth of tax returns

Proof of employment, such as a verification letter from your employer, that applies to the previous two years

Prior 30 days' worth of pay stubs

Verification of self-employment income, such as tax and other financial documentation

Financial and credit information for a cosigner with good credit, if you have one, which could help strengthen your application

That sounds hella invasive. The banks get nowhere near as much info here unless you use a bank you already have an account in, in which case they have access to that account's information. Otherwise standard is 6 months of data.