Common challenges
Automated underwriting cannot score what it cannot see. No-score borrowers get referred to manual underwriting, where every payment history document must be airtight.
Programs that fit
Home loan
FHA Loans
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
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Home loanConventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
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Home loanFirst-Time Homebuyer Loans
First-time homebuyer loans are mortgage options with low down payments, typically 3% conventional, 3.5% FHA or $0 VA, often paired with state or local down payment assistance.
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Tips before you apply
- Build a paper trail now: 12 months of canceled rent checks or bank transfers to your landlord, plus utility and phone payment history.
- FHA manual underwriting generally wants at least three non-traditional tradelines with 12-month histories.
- Avoid opening new credit right before applying; thin files are judged on stability.
FAQ
What is the best mortgage for thin-file borrowers (no credit score)?
It depends on your documentation and goal. The programs that most often fit are FHA Loans, Conventional Loans, First-Time Homebuyer Loans.