No Credit Score? No Problem.

Purchasing a home is a significant milestone in many people’s lives, and the path to homeownership, though challenging, is not impossible for those without a credit score. Traditionally, a good credit score is a crucial factor in securing a mortgage. However, not having a credit history doesn’t mean you can’t achieve your dream of homeownership. Keep reading to understand how to qualify for a mortgage with no credit score, with tips and strategies for first-time homebuyers.

A credit score is a numerical representation of your creditworthiness, and it helps lenders assess the risk associated with lending you money. While a high credit score is beneficial, it’s not the only factor lenders consider when approving a mortgage application. If you have no credit history, it can be more challenging, but not impossible, to secure a mortgage. Gershman Mortgage, with its manual underwrite option, is here to use alternative credit sources to qualify buyers, providing the support and guidance you need. These might include:


  • Rental history: If you’ve been a responsible tenant and have a record of on-time rental payments, provide your rental history to potential lenders.


  • Utility bills: Consistent and timely payments of utility bills can also demonstrate your financial responsibility. Collect and present records of these payments to potential lenders.


  • Non-traditional loans: Consider obtaining a credit-builder loan or a secured credit card to establish a credit history over time. These financial products are designed for people looking to build or rebuild their credit.


Having a co-signer with an established credit history can significantly improve your chances of getting approved for a mortgage. A co-signer agrees to be equally responsible for the mortgage if you fail to make payments. Be cautious, though, as this option requires a great deal of trust and responsibility on both sides.

Securing a mortgage without a credit score may be more challenging, but it is not impossible. To start your homeownership journey, you can contact Andy today at 314-221-7797.

Andy Schoemehl | Vice President
314.221.7797 phone | 636.898.1017 fax
[email protected]
NMLS #258507
16253 Swingley Ridge Rd, Suite 200
Chesterfield, MO 63017


About the Author
Worth Clark Realty
We’re a true full-service real estate brokerage, providing innovative and value-driven services to help people buy, sell, and lease residential real estate.

We're proud to be agent-owned.