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No Credit Score vs. Low Credit Score

< Back to Articles | Time to Read: 5 minutes

What’s the difference between no credit score and a low credit score? There’s actually a BIG difference—almost like comparing apples to oranges!

No Score Loans Are No Joke!

When you have no credit score it means you are invisible or “unscorable” to the three credit bureaus (Equifax, Experian, and TransUnion) because you don’t have a credit report or score on file due to being debt-free.

It’s a myth that you can’t get a home loan without a credit score. While it’s true that it can be more difficult to get a mortgage without the traditional FICO® Score, it’s not impossible. You just need to follow the guidelines for manual underwriting to get a non-traditional mortgage.

Most lenders don’t offer loans without a credit score, but Churchill Mortgage accommodates this type of loan on a regular basis with expertise. You’ve worked hard to pay off your debt, so we work hard to make sure you’re not penalized for not having traditional credit.

We all know that anyone applying for any type of mortgage must submit financial documents. If you’re applying for a no score loan, these rules still affect you. Your documents and financial history will just look a little different—which is great problem to have because you’re debt-free!

Non-traditional sources of steady payment history include but aren’t limited to:

  • Rent
  • Utility bills
  • Cell phone bills
  • Insurance premium payments
  • Regular, timely deposits to a savings, checking, or other bank account
  • Tuition or child care payments

“My wife and I started the mortgage process with $0 debt and a 0-credit score. We weren’t sure of the process, but the Churchill team, provided us with the tools and resources we needed to complete the process in the allotted time with minimal issues. David, our Home Loan Specialist, was able to answer questions and provide needed guidance throughout the purchase. I whole-heartedly recommend Churchill for all they did to ensure we succeeded.” – Brian L., OK

A Low Score Can Keep You from Getting a Mortgage.

This non-traditional loan process that we’ve been talking about for those with no credit score is unfortunately not an alternative if you have a low credit score. Why is this? A low credit score ranges from 300-649 on the FICO® scoring system. To help improve your score, don’t apply for any new credit, and make sure you make all your payments are paid on time since details about your credit history typically include late or missed payments. Unfortunately, there’s no way to predict how long it takes to get your credit score repaired.

If you’re someone who has a credit score, you need to protect it and avoid any activity that may hurt it. So, keep in mind if you’re shopping for a mortgage, be sure to do so within a 14-day period to only get dinged once on your credit report. Click here to find out what happens to your credit score if multiple lenders do credit checks.

Stay Informed about Your Credit Score.

It’s important to stay on top of your credit score—whether it’s zero or 850. It’s a great way to keep track of your progress if your goal is to pay off your debt. And if you’re already debt-free, it’s a great way to double check it stays that way!

For more information about how to get a no score loan, contact us today.


Churchill Mortgage Corporation is not a credit repair company or similarly regulated organization under applicable laws and does not provide credit repair services.  Where available, recommendations, tips and education materials are provided to you at no additional charge, and for educational purposes only. The Services are intended to provide you with general information and assist you with identifying your options. The information is provided only to enable you to make your own choices about your personal finance, and is not intended to provide, legal, tax or financial advice.  We do not provide any services to repair or improve your credit profile or score, nor do we provide any representation that the information we provide will repair or improve your profile. Consult the services of a competent professional when you need any type of this assistance. Churchill Mortgage Corporation is also not a "consumer reporting agency" as that term is defined in the Fair Credit Reporting Act as amended.   

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