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No Credit Check Mortgage - Getting a Loan Without a Credit Check - Using Income and References to Obtain a No Credit Check Mortgage

Learn How to Find a No Credit Check Mortgage

buyer home money financing

If you desperately want to purchase a new home but you have bad credit, there might be a solution. You can apply for a no credit check mortgage. These mortgages allow people of all credit levels to obtain mortgage loans. Thus, you can get your money and purchase your new house, no matter what type of credit rating you have.

There are several types of no credit check mortgages. Each type has different features that should be examined. Then, you will be able to decide which one is right for you.

Using Income and References to Obtain a No Credit Check Mortgage

If you have a strong income and solid references, you can obtain a no credit check mortgage based on these merits. While they will not look at your credit, they will need to make sure you make enough money to repay the loan. They will also need to check your references before they will lend you the money. If your salary and references are satisfactory, they will provide you with the mortgage loan.

No Credit Check Mortgage Via Credit Partners

Many people get mortgage loans by using credit partners. Credit partners are investors that purchase the homes and then charge people interest for the loan. This is a mutually beneficial relationship for the investor and the new homeowner. The buyer can get his home, and the investor will get the loan amount and interest back.

Buyers can either go through a company or look for investors on their own. If you want to use a program, you can contact the Magix Corporation. This corporation finds investors for homebuyers.

Owner Financing

If you want a mortgage with no credit check, you can also consider owner financing. This typically occurs when a buyer attempts to get a loan from a bank and he is turned down. The owner wants to sell the home, so he obtains the financing and loans it to the buyer. The buyer enters into an agreement with the owner, and has to pay the owner back the money plus interest. Since poor credit was the reason the owner is offering the financing, he does not check the buyer’s credit. He assumes the risk, and hopes for the reward.

While it can take some work to find a no credit mortgage loan, the process is well worth it to those who have bad credit. With this type of loan, you can get the home of your dreams, even if you have a bad credit history.

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