One of the biggest myths out there is: "I've got great credit, naturally I can buy a home"
Funny story, my wife walked into a car dealership and left with a new can in about 2 hours. Being in mortgage lending for over a decade I was SHOCKED. When you buy a home you have to provide income and asset documentation and go through a huge security process. If you purchased a home, you know what I'm talking about!
So I ask her. "How did you buy this car?" How much money did you put down?" With a mischievous smile, she said none. I asked what she used for income and she laughs at me. (She hasn't worked full time outside the home... ever *except to raise our beautiful children) I almost fell out of my chair in amazement.
With no source of income, no money down, just with good credit she was able to purchase the car... and the best part? She got an amazing interest rate and almost 5k under sticker on a NEW car. Naturally I'm proud of her negotiation skills and getting a car she loves...
So yes, you can get credit cards, personal loans and even cars on good credit alone.
But for a good mortgage, you're going to have to work for it!! You'll need paystubs, bank statements, possibly even tax returns, a VOE from your employer and more! Don't worry, we will make it easy for you. Call us to find out more.