There is no doubt that getting a home loan without having any credit will be more challenging than getting a mortgage loan if you have great credit, but there are lenders and loan programs that are available to people who do not have any credit. If you want to get a loan without credit, you could apply for one right one; however, it might be worthwhile to wait a few months to apply to give you some time to build up credit, and here are several things you could do to build up your credit in a short amount of time.

Start Using a Credit Card

The first thing you can do to build up your credit quickly is to apply for a credit card. If you can get approved for a credit card right now, you will have a way to start building payment history. Once you receive the card, you should begin using it like crazy; however, you should also avoid racking up a large bill on it. To use it wisely and as a way to build credit, use it weekly for your purchases and then pay the bill the following week. By paying the bill every week, you could avoid creating a high ratio of credit utilization, yet you would have a way to build your repayment history.

This is probably the simplest way to start building your credit right now, and it could help you have some credit within a few months. If so, you might have an easier time qualifying for a loan.

Get a Personal Loan

A second good way to build your credit history is to get a personal loan. A personal loan is a relatively small amount of money, in most cases, and it requires monthly payments. If you can borrow $1,000 or so on a loan like this and begin paying your installment payments, you will also have a fast way to build up your credit.

Any type of loan or line of credit can help you build your credit, and this is primarily because of the way payments affect credit. Payment history makes up 35% of the total credit score you have, so any type of payment you can get posted on your credit report will help your score, as long as it is made on time.

If you are ready to get a loan to buy a house with credit or without, you should contact a company like SWE Homes.