mortgage secrets

So there’s something that a lot of people don’t know about. You can get a mortgage even if you have no credit. None, none at all. You can get a mortgage. The federal government has made it mandatory that Fannie Mae and Freddie Mac, the government insurers to mortgages, allow people to use alternative forms of credit to get a mortgage. That means if you don’t have a credit report, you can get a mortgage with your cell phone bill, your rent payments doctor’s bill. All sorts of stuff can be used as alternative proof that you can make your payments on your mortgage. So if your lender says that they cannot get you a loan because you have no credit history, go somewhere else. Because the government has made it that you can use alternative forms of credit to get a loan.