Suppose a family moves to the US (credit score does not exist, because they just arrived), and they want to buy…
Suppose a family moves to the US (credit score does not exist, because they have just arrived), and they want to buy a house, when they have 25-30% of the property value immediately. What are the options to take out a mortgage on the balance without an initial credit score? (Not huge mortgage, say $ 200K)
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It all depends on your conditions.
If there are salaries from reputable employers, there is no problem getting a mortgage on good terms.
Every big bank like Wells Fargo has a special underwriter process. They contact banks and a credit company in Israel and verify the history of your payments.
In short, possible from experience, even for a jumbo loan.
The interest rate will be higher because you are a risk to the lender
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If they came with an employer. The employer can write a letter to the mortgage lender.
What is the pressure? Wait a few months and there will be credit