Anyone buy first house with no credit?

Question

Fiancé and I looking into buying our first house with a 10-15K downpayment, no credit history. We’ve heard of people being able to buy a house with no credit, wondering if anyone has done this?

Answer

You need to look into what types of loans are available in your area. It will vary differently everywhere. 
The best thing to do is talk to a mortgage lender or realtor to get the best information for where you live.

Answer

Anything is possible but you will pay a premium for it. You would be better off taking some time to build some kind of credit score with credit cards, car payments or something for a year and then buy it.

Answer

Depends where you live. In Canada likely not going to happen. It's ridiculous here.

Answer

I've had friends who bought a house at 18, no credit, no down payment. They could only get a variable interest rate that went from 3-9% and they required mortgage insurance of $300/month. 
It's possible to get a decent mortgage WITH a good down payment, at least 20%. You will have to have to show you have a stable, long term job. You may need a cosigner with good credit

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Anyone buy first house with no credit?

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