Welcome to the innovative realm of No Credit Score Mortgages, designed to break down barriers and open doors to homeownership for individuals with limited or no credit history.
A No Credit Score Mortgage is a financing option tailored for those without a traditional credit history. Instead of relying on conventional credit scores, this mortgage considers alternative factors like rental payments, utility bills, and employment history to assess the borrower's creditworthiness.
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20% Down payment
Perfect Credit
Interest Rates
Finding A House
30-Year Fixed-Rate Mortgages
20% Down payment
Myth
You need 20% down to purchase a home.
Fact
This isn't true. If you take out a conventional loan, you can buy a home with as little as 3% down.
Perfect Credit
Myth
You must have perfect credit to qualify for a mortgage.
Fact
Credit plays a significant role in your ability to get a home loan. However, this doesn’t mean you need perfect credit to buy a home.
Interest Rates
Myth
Mortgage interest rates are the same no matter what lender you work with.
Fact
The truth is that rates can vary from lender to lender. So for your financial safety, you should shop around when looking for a mortgage loan.
Finding a house
Myth
Find a house, then worry about a mortgage.
Fact
This is terrible advice at any time, but in a hot seller’s market like today’s, believing this myth can lead you to miss out on a home altogether.
30-Year Fixed-Rate Mortgages
Myth
A 30-year fixed-rate mortgage is always the best choice
Fact
If you can afford higher payments, you can own your home outright in less time and for less money with a 15-year fixed-rate mortgage.
Benefits of No Credit Score Mortgages
1. Inclusive Homeownership For First-Time Buyers: Ideal for those entering the housing market without an established credit history. Credit Rebuilders: Offer a chance for individuals to build credit through responsible mortgage payments.
2. Alternative Credit Assessment Holistic Approach: Considers various financial aspects, providing a more comprehensive view of the borrower's ability to repay. Beyond Credit Scores: Moves away from the traditional credit score-centric evaluation, accommodating a diverse range of financial backgrounds.
3. Financial Inclusion Empowering the Underserved: Addresses the challenges faced by those with thin or nonexistent credit files. Opportunity for Immigrants: Offers a viable homeownership path for immigrants building a new financial life in the U.S.
4. Flexible Approval Process Based on Financial Behavior: Focuses on responsible financial behaviors and patterns. Manual Underwriting: Allows for a personalized assessment by underwriters, promoting flexibility in approvals.
5. Building Credit Responsibly Credit Development: Timely mortgage payments contribute to building a positive credit history. Gradual Credit Establishment: Opens avenues for traditional credit opportunities in the future.
Bee Franklin LLC
We bring a customized, unique approach to mortgages. Our lending solutions use the perfect hybrid of human-driven insights and technical prowess to process loans faster and significantly reduce costs.
For numerous years, we've been dedicated to assisting clients in achieving their aspirations of owning their ideal homes, and our passion for this work remains unwavering.
Disclosure: The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans may be arranged through third party providers.
