[Jhavis]

how big a factor really is credit?

im in USA btw... Like if you bought a house worth 250k and you had a 100k down payment they would really turn you down if your credit isnt great?

[Stendoh]

how big a factor really is credit?

im in USA btw... Like if you bought a house worth 250k and you had a 100k down payment they would really turn you down if your credit isnt great?

They’d definitely turn you down if your credit isn’t good. As you’d need $150k loan and if the bank doesn’t deem you as trustworthy and they don’t think they’d get there money back+interest they won’t give you the loan

[SIM-403479]

Yeah if your credit isn’t great ofc they will turn you down.

It doesn’t matter how much you have, if you can’t prove that you’re good with money why would they want to lend you more?

[Shuxas]

Credit is a big thing, if you dont have good credit, they will turn you down, and wont give you much of a loan if any.

[Deany]

Screw houses. Just live the NEET life like a KING

[Knife⠀]

If your credit isn't great they will turn you down for sure.

[Jhavis]

They’d definitely turn you down if your credit isn’t good. As you’d need $150k loan and if the bank doesn’t deem you as trustworthy and they don’t think they’d get there money back+interest they won’t give you the loan

What if you could pay 80% of it off same day you bought it?

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They’d definitely turn you down if your credit isn’t good. As you’d need $150k loan and if the bank doesn’t deem you as trustworthy and they don’t think they’d get there money back+interest they won’t give you the loan

Yeah if your credit isn’t great ofc they will turn you down.

It doesn’t matter how much you have, if you can’t prove that you’re good with money why would they want to lend you more?

I dont have good credit but its not because of missing antying its just i have not built it really... I dont have credit cards..

[iNviZ]

You can get the loan but your interest rate will be high. Good credit saves you money in the long run.

[NoneStar]

Depends on how bad the credit is, they might just make it harder to get a deal or just deny outright.

[lust]

100k down on a 250k house would definitely help you out with getting a mortgage. The standard is 20% down. Only issue would be possibly a higher interest rate. Be proud you don't have a credit score. Too many people rely on that credit to survive and fuck around with debt too hard. If you have no credit score, just provide documentation on previous, regular on-time payments of recurring expenses such as rent or utilities. You may also need to provide documentation of a steady source of income such as paystubs. However, if you have a low credit score, they will likely straight up deny you a mortgage. Going off of your last post, I'm assuming you have a low credit score because you just don't usually use debt as a financial tool. That is completely fine and probably even better than using it. If that's the case, you're going to have to keep living debt-free and just wait until you eventually don't have a credit score.

[Jhavis]

100k down on a 250k house would definitely help you out with getting a mortgage. The standard is 20% down. Only issue would be possibly a higher interest rate. Be proud you don't have a credit score. Too many people rely on that credit to survive and fuck around with debt too hard. If you have no credit score, just provide documentation on previous, regular on-time payments of recurring expenses such as rent or utilities. You may also need to provide documentation of a steady source of income such as paystubs. However, if you have a low credit score, they will likely straight up deny you a mortgage. Going off of your last post, I'm assuming you have a low credit score because you just don't usually use debt as a financial tool. That is completely fine and probably even better than using it. If that's the case, you're going to have to keep living debt-free and just wait until you eventually don't have a credit score.

Thanks bro thats kinda how i see it but i wasnt too sure.. .I