By Zina Kumok, Financial Health Counselor, Credit Counselor
If you listen to certain financial experts, it’s easy to get the wrong idea about credit. Many money gurus – most notably Dave Ramsey – advise consumers to avoid credit cards and other forms of personal debt.
That might seem responsible enough, until you start shopping for a mortgage with no credit history and have to overcome that barrier.
Thankfully, it’s still possible, though not necessarily easy, for someone without credit to secure a mortgage and buy a house.
Here’s what you need to know.
In this article
What does no credit mean?
In a world of student loans, auto loans and credit cards, it’s hard to imagine not having any debt. But it is possible to live with no credit, especially if you’re young and have avoided loans your whole life.
If you’re debt-free and use debit cards instead of credit