Posted: 5/30/2026 3:44:29 PM EDT
[Last Edit: prebans][Edited]
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A friend lives north of Dallas. He wants to buy a home. His problem is that he pays cash for everything because he loathes debt. So far he’s been rejected by three lenders for having no credit score. In case this helps, here are his details: -VA loan eligible; -Income of $80,000 annually as a physically service-disabled Navy veteran; -$30,000 in the bank to put toward a down payment (even though it isn’t necessary with a VA loan); -Recently took out a 12-month $500.00 (five hundred bucks) personal loan simply to try to get a credit score by making payments, which annoys him to no end.  Any recommendations for someone who can actually underwrite him without him having a FICO would be greatly appreciated. Before anybody jumps in about this being impossible or BS, etc., I have known him for about 25 years. I have always known him to be totally honest, (unfortunately) his injuries are physical and permanent (his disability rating is for life), and I’ve seen and have personally been through lenders doing stupider things. Thank you! |
“Don't post anything here or send anything you aren't willing to defend in court.”
-Notcalifornialegal
-Notcalifornialegal
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We moved two years ago and Frost bank was able to accommodate our situation - we needed a 'bridge' loan to float our down payment on the new house while waiting on the old house to sell. Not all lenders were willing to do it. They were very easy to work with. Can't say they'll help in this situation but you may try. You may also NFM Lending - also have experience with them. |
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it is probably going to have to be a small shop. underwriting is mostly automated now and will kick him for not having a credit score, with the people behind the keyboard having no way to override that decision. it will see it as an error, like he either doesn't exist or default it to an under 600 score. if he were like 18 and his first home, there might have been something to do about it, but being older and no credit score is going to be unlikely if not impossible with a big lender, because all of their software is generally written by a 3rd party to save money and it will kick it. |
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Originally Posted By avips: Has he looked at Texas Veterans Land Board? ( It's not just land!) Don’t know, but I just Googled it and sent him the link. Thank you! |
“Don't post anything here or send anything you aren't willing to defend in court.”
-Notcalifornialegal
-Notcalifornialegal
