NO CREDIT SCORE COLORADO MORTGAGE LENDERS

NO CREDIT SCORE Colorado MORTGAGE LENDER-

Most Colorado mortgage programs require mortgage applicants to have at least (3) three positive open and active trade lines on their credit  report for the last 12 months. For most Colorado mortgage lenders the no credit score removes them from consideration for a conventional Colorado mortgage. However there are (3) three government-backed Colorado mortgage loan programs will permit nontraditional credit lines in place traditional credit trade lines. These Colorado Mortgage programs include the FHA,USDA, VA loans. While these Colorado mortgage programs have minimum requirements, each participating Colorado mortgage lender is free to enforce their own no credit approval guidelines.  Fill out a Full Colorado mortgage application and learn how we can help you qualify for a no credit score Colorado mortgage. READ MORE ON NO CREDIT SCORE HOME LOAN GUIDELINES.

DEVELOPING A NONTRADITIONAL CREDIT HISTORY FOR NO CREDIT SCORE HOME LOAN

All government-baked Colorado mortgage programs use the same method for building and documenting non-traditional credit histories. Even if a Colorado mortgage applicant does not have a credit card or installment payments, odds are they have made some form of monthly payments consecutively for the last 12 months.. Colorado mortgage applicants with no credit can use the canceled checks or letters from a direct service provider to prove timely payment history for the last 12 months. Acceptable examples include: rental history, car insurance, utility bills, cell phone bills, daycare, and car insurance payments. Proof of these timely payments provides to the Colorado mortgage lender a financial record that would indicate how the mortgage applicant would handle credit in the future. Please note: These 3 accounts must be open for at least one year, a full 12 months no late or missed payments. 

USDA MORTGAGE LOANS– The USDA earmarks its Colorado mortgage program for buyers of primary residences in rural areas, but many suburban Colorado counties areas are eligible for these Colorado mortgage loans. These zero-down Colorado mortgage loans have a small upfront fee that buyers can finance within the loan, but no (MI) monthly insurance premiums. There are however maximum  income limits for the USDA mortgage and special terms available for low-income Colorado mortgage applicants. 

VA MORTGAGE LOANS– VA loans are only for veterans and their eligible spouses, as well as those who have served within particular civil organizations. Eligible spouses include those who are married to a prisoner of war or one who is missing in action or un-remarried spouses of a Colorado service member who died in action or of a service-related injury. VA mortgage loans require no down payment or monthly fee, but there is an upfront funding fee that can be financed into the loan making the VA mortgage a 100% no money down mortgage loan.

FHA MORTGAGE LOANS- FHA loans are available to all Colorado mortgage applicants buyers in every city Colorado and county in Colorado. FHA loans have no income limits, but do have maximum loan limits that vary from county to county. There is both an (UFMIP) upfront funding fee that can be included in the loan, as well as a small fee (MIP) mortgage insurance premium added to the monthly payment.

BAD CREDIT Colorado MORTGAGE– A Colorado mortgage applicant cannot use a nontraditional credit line to correct or compensate for poor credit, such as a judgment, or past collections, no matter how thin his credit is. Even if there is only one judgment or collection on a Colorado mortgage applicants  credit report, it will have to be settled with the creditor. Settling an old judgment or collection can be a great way to get a large item removed off ones credit for pennies on the dollar. Also lowering the balance on an open and active account to less than 30% of the account limit can be a good way to increase a bad credit score.

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Aguilar
Air Force Academy
Akron
Alamosa
Alamosa East
AllensPark Colorado
Alma
Antonito
Applewood
Arboles
Aristocrat Ranchette, Colorados
Arriba
Arvada
Aspen
Aspen Park Colorado
Atwood
Ault
Aurora
Avon
Avondale
Basalt
Battlement Mesa
Bayfield
Bennett
Berkley, Colorado
Berthoud
Bethune
Beulah Valley
Black Forest
Black Hawk
Blanca
Blue River
Bonanza
Boone
Boulder
Bow Mar
Branson
Breckenridge
Brighton
Brookside
Broomfield
Brush
Buena Vista, Colorado
Burlington
Byers
Calhan
Campion
Campo
Canon city Colorado
Carbondale
Carriage Club
Cascade-Chipita Park Colorado
Castle Pines
Castle Rock
Castlewood
Cedaredge
Center, Colorado
Central city Colorado
Cheraw
Cherry Hills Village
Cheyenne Wells
Cimarron Hills
Clifton
Coal Creek
Coal Creek
Cokedale
Collbran
Colorado city Colorado
Colorado Springs Colorado
Columbine
Columbine Valley, Colorado
Commerce city Colorado
Cortez
Cottonwood
Craig
Crawford
Creede
Crested Butte
Crestone
Cripple Creek
Crook
Crowley
Dacono
De Beque
Deer Trail
Del Norte
Delta
Denver
Derby, Colorado
Dillon
Dinosaur
Dolores
Dove Creek
Downieville-Lawson-Dumont
Durango
Eads
Eagle
Eagle-Vail
East Pleasant View
Eaton
Eckley
Edgewater
Edwards, Colorado
Eldora
Eldorado Springs Colorado
Elizabeth
El Jebel
Empire
Englewood
Erie
Estes Park Colorado
Evans
Evergreen
Fairplay
Federal Heights
Firestone
Flagler
Fleming
Florence
Fort Carson
Fort Collins, Colorado
Fort Garland
Fort Lupton
Fort Morgan
Fountain
Fowler
Foxfield
Franktown
Fraser
Frederick
Frisco
Fruita
Fruitvale
Garden city Colorado
Genesee
Genoa, Colorado
Georgetown
Gilcrest
Glendale
Gleneagle
Glenwood Springs Colorado
Golden
Gold Hill
Granada
Granby
Grand Junction
Grand Lake
Grand View Estates
Greeley
Green Mountain Falls
Greenwood Village
Grover
Gunbarrel
Gunnison, Colorado
Gypsum
Hartman
Haswell
Haxtun
Hayden
Heritage Hills
Highlands Ranch
Hillrose
Holly
Holyoke
Hooper
Hotchkiss
Hot Sulphur Springs Colorado
Hudson
Hugo
Idaho Springs Colorado
Ignacio, Colorado
Iliff
Indian Hills
Jamestown
Johnstown
Julesburg
Keenesburg
Ken Caryl
Kersey
Keystone
Kim
Kiowa
Kit Carson
Kittredge
Kremmling
Lafayette
La Jara
La Junta
Lake city Colorado
Lakeside
Lakewood
Lamar
Laporte
Larkspur
La Salle
Las Animas
La Veta, Colorado
Leadville
Leadville North
Limon
Lincoln Park Colorado
Littleton
Lochbuie
Loghill Village
Log Lane Village
Lone Tree
Longmont
Louisville
Louviers
Loveland
Lyons
Manassa, Colorado
Mancos
Manitou Springs Colorado
Manzanola
Marble
Mead
Meeker
Meridian
Merino
Milliken
Minturn
Moffat
Monte Vista
Montezuma
Montrose
Monument
Morrison
Mountain View
Mountain Village
Mount Crested Butte
Naturita
Nederland
New Castle
Niwot
Northglenn
North Washington
Norwood, Colorado
Nucla
Nunn
Oak Creek
Olathe
Olney Springs Colorado
Ophir
Orchard city Colorado
Orchard Mesa
Ordway
Otis
Ouray
Ovid
Padroni
Pagosa Springs Colorado
Palisade
Palmer Lake
Paoli
Paonia
Parachute, Colorado
Park Coloradoer
Peetz
Penrose
Perry Park Colorado
Pierce
Pitkin
Platteville
Poncha Springs Colorado
Ponderosa Park Colorado
Pritchett
Pueblo
Pueblo West
Ramah
Rangely
Raymer
Red Cliff
Red Feather Lakes
Redlands
Rico
Ridgway
Rifle
Rockvale
Rocky Ford
Romeo
Roxborough Park Colorado
Rye
Saguache
St. Mary’s
Salida
Salt Creek, Colorado
Sanford
San Luis
Sawpit
Security-Widefield
Sedalia
Sedgwick
Seibert
Severance
Sheridan
Sheridan Lake
Sherrelwood
Silt
Silver Cliff
Silver Plume
Silverthorne
Silverton
Simla
Snowmass Village
South Fork
Southglenn
Springfield
Starkville
Steamboat Springs Colorado
Sterling
Stonegate
Strasburg
Stratmoor
Stratton, Colorado
Sugar city Colorado
Superior
Swink
Tabernash
Telluride
The Pinery
Thornton
Timnath
Todd Creek
Towaoc
Trinidad
Twin Lakes
Two Buttes
Vail
Victor, Colorado
Vilas
Vona
Walden
Walsenburg
Walsh
Ward
Welby
Wellington
Westcliffe
Westcreek, Colorado
Westminster
West Pleasant View
Wheat Ridge
Wiggins
Wiley
Williamsburg
Windsor
Winter Park Colorado
Woodland Park Colorado
Woodmoor
Wray
Yampa
Yuma, Colorado