Quote:My thoughts while waiting for a flight in Dallas (i.e., brief and disorganized):


1. I would anticipate that their credit be checked before extending the loan offer, and their interest rate figured accordingly. If they have no credit, I would hope (though I know there will be those who push to not make this the case) that the lender would have the right to turn the applicant away. Try and apply for a conventional loan with no credit and see how far you get in the process. Hint: they won't even take your application fee.


As to how the applicants build credit history, that's no one's problem but their own to figure out.


 

 

 

Quote:Not true. Someone with no credit who can prove stable employment and income will always be considered. They'll just be required to bring much more up front in the down payment, pay a much higher interest rate, and possibly be required to take a 15-year loan instead of a 30-year. The banks are in the business of making money, and they don't make money by turning away someone who has the ability to pay down a home loan.

 

see, even you know better.  

 

And do we really think that the person who is making 200k a year and has 25% to put down on a house is the person that we are talking about?

 

I still haven't heard anyone mention why we should be subsidizing a belief system that calls for our democracy being turned into a muslim theocracy by force if need be?

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