Mortgage finance is about putting people in their own house. No longer does the person make a lease payment every month for the roof over their head. Instead, a home owner makes a mortgage payment towards a piece of property he or she can own the rest of their lives. Even when a person plans on moving again, the equity on that home acts as collateral for secured loans or wealth one can liquidate to buy another, perhaps better home.

Owning a home is an assumed part of an American’s growth and life path. That means a mortgage loan is basic to human development in the modern age. But it goes back much further than that, to the beginning of civilization itself.

From the time people learned they could farm the land and hoard food, owning your home and a plot of land around it has been important to human beings. Being able to say you’re the owner of your own house has been sacred throughout human history. In the formative middle ages of western civilization, only kings, nobles, and a few soldiers could own land privately.

No Credit Check Mortgage LoansIn America, everyone can own a home.

Property ownership is a big element of the American dream. You work hard. You buy your own personal castle in the suburbs.

Having your own household is having a retreat, a refuge, a sanctum sanctorum. You become king or queen of your own castle. At least, that’s how it’s worked for generations. Mortgage financing for your dream home is how it’s supposed to work.

Obtaining a mortgage loan so you can buy a home has become harder in the last few years. In the 2000’s, everyone could get a mortgage, even if they were sub-prime loans. If you wanted a house to call your own, you had that house. When the housing market went bust, many of the dreams and illusions of homeowners went bust along with them.

Being approved and signing mortgage loans with no credit check required has always been impossible. Unless you’re paying a huge down payments larger than the market average, I see no way you’ll get a loan officer at a bank, credit union, or mortgage company to offer you a mortgage loan without seeing what your credit history is. Though people didn’t check financial backgrounds enough before the collapse, they are overcompensating these days. You want the facts, so let me be honest: you won’t get a mortgage loan with no credit check.

Getting a Mortgage Loan without Good Credit

That doesn’t mean you won’t be able to get that home you always wanted. Potential home owners can find alternative home finance choices that help them own, if they apply in the right places and work hard enough to make it happen. You may have heard that these sources of money have dried up, but those rumors are greatly exaggerated. Many types of mortgage loans still exist that can help you. FHA loans, Fannie Mae and Freddie Mac lending, VA housing loans, and FHA homes through HUD are still available.

Fannie Mae Home Loans for Poor Credit

In 2010, Fannie Mae helped over half-a-million Americans stay in their homes. Better for you, Fannie Mae helped nearly 600,000 American families get into home mortgages. Home ownership might be on the decline, but it’s not dead. People might not like taking government money to own a home, but keep in mind these government loans are meant to spur on the economy. This isn’t charity, but the people of the USA pooling their resources to get out of a hole. Remember, the financiers who won’t give you a mortgage loan today got us into this mess. Buying a home helps turn the economy around, if you can pull it off. Here’s how you do it.

When you start looking for mortgage loans and you’re concerned about a credit check, ask potential creditors about “conforming loans”. These lending rates and terms conform to the standards of Fannie Mae loans, so they represent another opportunity at getting in the home you always dreamed about without an APR you can’t afford.

HUD Homes and Federal Housing Administration

Housing & Urban Development or “HUD” is a government agency which oversees mortgage lending practices. HUD helps Americans buy homes, avoid foreclosures, find rental assistance, and search for affordable apartments by creating equal opportunity in every community. By contacting HUD, you can gain access to a housing counseler, apply for a grant, learn information from the Real Estate Assessment Center or REAC System, or get HUD News email alerts. You can learn about scams in mortgage lending, good deals on houses in your community, and see financial reports on the housing economy. You can also browse HUD Homes by state, county, and city to see what deals exist in your community. Special programs include the “Good Neighbor Next Door“, special housing for nonprofits, and “$1 Homes-Government Sales“.

This isn’t the same as getting a no-credit-check mortgage loan, but it’s the next best thing. You’ll find affordable housing for purchase that doesn’t disqualify people with bad credit histories or no credit at all. HUD Homes give you a new lease on life. The Federal Housing Administration or FHA is a wing of HUD and you’ll often hear it talked about, too. HUD and the FHA won’t be able to help everybody, but it’s worth your time to see if you qualify.

Rural Housing Authority

People living in rural America might think the federal government is only helping people in the cities, but that’s not the case. The USA’s Rural Housing Service offers RHS loans to help rural homeowners. The RHS programs has one of the best deals you’ll get in mortgage financing: minimal closing costs and no down payment guaranteed.

Veterans Affairs Housing Loans

A separate program is one which offers VA housing loans. Veterans of the U.S. armed services should check into getting special loan rates as part of their VA benefits. The max loan is $203,000, but it’s at a much better rate than what you’re likely to get from a traditional mortgage officer.

Mortgage Loans with No Credit Check Required

The bad news is you won’t find a “no credit check mortgage loan“. If someone offers you one, be suspicious. The good news is you can get affordable mortgage rates without credit checks designed to humiliate and marginalize you. Check into federal programs which assist new and potential homeowners buy the home they always wanted. The American dream still exists; you just have to concentrate a little harder to see it.

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