Are banks/lenders still offering loans with NO-down payment?
Several posters after me emphasized “good credit” — I posted that the credit can’t be bad any more. I make this distinction because some would be home buyers have no “traditional” good credit and thus no credit score. NON-Traditional ‘good credit” can be used instead of a credit score. These are: good rental history, good utility bill payment record, other periodic payments made by the appplicant that can be documented, the credit record does not have to be on a credit bureau report if it can be documented. There is however, an enhanced credit report that can be ordered called an “Anthem” report (trademarked name by Credco ) For an extra charge a credit bureau will document these non-traditional payment records. A credit score of zero IS NOT a low credit score, It is merely the absence of a FICO or Beacon score.
