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Re: Credit Cards - For new customers... Suggestions???
Don't buy the BS that if you have no credit you can easily get a home loan either. Somebody with no credit often ends up on a crappy program with a heightened interest rate. The Mortgage Brokers with all those No Doc Programs would love your advice
Ever hear of manual underwriting? It is still done, I can get any of my clients financed with 2 years current payment history that can be verified, with a VERY competitive rate. I didn't say NO CREDIT, I said NO CREDIT CARDS. There is a difference!
There are alternatives to the damn FICO score!
Originally posted by Bretsky
Don't buy the BS that if you have no credit you can easily get a home loan either. Somebody with no credit often ends up on a crappy program with a heightened interest rate. The Mortgage Brokers with all those No Doc Programs would love your advice
Ever hear of manual underwriting? It is still done, I can get any of my clients financed with 2 years current payment history that can be verified, with a VERY competitive rate. I didn't say NO CREDIT, I said NO CREDIT CARDS. There is a difference!
There are alternatives to the damn FICO score!
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