Comments on: Reader Question: Buying a House Without a Credit History? http://www.getrichslowly.org/blog/2006/06/14/reader-question-buying-a-house-without-a-credit-history/ personal finance that makes cents Thu, 24 Jul 2008 01:43:16 +0000 http://wordpress.org/?v=2.5.1 By: Get Rich Slowly » Independence Day Break http://www.getrichslowly.org/blog/2006/06/14/reader-question-buying-a-house-without-a-credit-history/#comment-1116 Get Rich Slowly » Independence Day Break Mon, 03 Jul 2006 16:03:48 +0000 http://www.getrichslowly.org/blog/2006/06/14/reader-question-buying-a-house-without-a-credit-history/#comment-1116 [...] Buying a house without a credit history [...] [...] Buying a house without a credit history [...]

]]> By: dabrfe http://www.getrichslowly.org/blog/2006/06/14/reader-question-buying-a-house-without-a-credit-history/#comment-465 dabrfe Wed, 14 Jun 2006 14:19:29 +0000 http://www.getrichslowly.org/blog/2006/06/14/reader-question-buying-a-house-without-a-credit-history/#comment-465 My wife and I were in a similar situation when we bought our house. I had had a credit card since high school, but I used it very rarely. Other than that, we had no debt (and therefore no credit history). We were also putting 20% down. The mortgage company verified our payment history with our landlord and our utilities company (about 1.5 years history each). We got a standard 15-yr mortgage (not FHA) for what I thought was a decent rate (decent enough that in 7 years I haven't done a re-fi). I don't remember what the fees were, though we did pay a point or so to bring down the rate. We got our mortgage the same company who carried our insurance, so that have have helped some in securing the mortgage. My wife and I were in a similar situation when we bought our house. I had had a credit card since high school, but I used it very rarely. Other than that, we had no debt (and therefore no credit history). We were also putting 20% down. The mortgage company verified our payment history with our landlord and our utilities company (about 1.5 years history each). We got a standard 15-yr mortgage (not FHA) for what I thought was a decent rate (decent enough that in 7 years I haven’t done a re-fi). I don’t remember what the fees were, though we did pay a point or so to bring down the rate.

We got our mortgage the same company who carried our insurance, so that have have helped some in securing the mortgage.

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