How to Get Financing When You Don’t Have a Credit Score

If you have chosen to live a cash-only lifestyle and have never taken out a car loan, a personal loan, or a credit card, you will not have a credit score. If you are ready to purchase a home and you need some financial assistance, a credit score is what most lenders rely on when it comes to determining if you qualify for financing.

Not having a credit score is different than having a poor credit score. If you don't have a credit score at all, and getting a mortgage is the first act of taking out credit you are taking, the lender will have to use other ways to establish your creditworthiness. Instead, they will use alternative data points to determine your eligibility. Read on to learn more.


If you have been renting, you can provide evidence that shows that you paid your rent on-time. You can have your landlord draft a statement about how long you have rented from them and what percentage of your payments were on-time. You can also show when the payments cleared your bank or receipts from making your rent payments on time. The more rent history you can provide, the better.


If you have health insurance, life insurance, or car insurance, get your bills together. You want to show that you have paid all your insurance premiums on time and that you have never lost your car insurance, for example, due to non-payment. Showing that you have paid your car insurance premium for the last five years, for example, shows you can be responsible for a long-term, re-occurring payment.

Utility Bills

Next, you will want to get your utility bills together, such as your water, electricity, and gas bill. Once again, with these bills, you want to show that you have paid your bills on-time and that you have not received any shut-off notices for non-payment.

Savings Plan

It is not all about your bills. If you have a savings plan or savings account, and you make regular contributions to your savings plan, that is yet another way that you can demonstrate your financial responsibility.

If you don't have a credit score because you have not ever had a loan or credit card, a bank can still loan you money for a mortgage by establishing your credit through alternative credit data. To learn more, ask your mortgage lender about no credit financing options.