Loans

How Old Do You Have To Be To Get A Loan – HOW TO GET A LOAN WITHOUT A CREDIT SCORE

how-old-do-you-have-to-be-to-get-a-loan-how-to-get-a-loan-without-a-credit-score

How Old Do You Have To Be To Get A Loan – Whats The Best?

Maybe you are new to credit, maybe you have bad credit and maybe you have no credit, so this video should help you, but unfortunately, bad credit usually means higher rates, down payments, and sometimes rejections.

1. Mortgage: manual underwriting, they take a look at your rent payment history and utility bill history
– It’s basically the same as when you rejected for a credit card by the system
– But you call in have a real person take a look at your finance
– And they approve you

They are going to Focus on these 3 things:
– Income: if you only make 10k a year but you want to buy its 500k property it’s not going to happen. But if you make 40k a year and you want to buy a 200k property with maybe a 20% down then It might happen.
– Payment history: this will come from rent payments, utilities, and everything else. That’s why its called manual, and that why most banks hate it, its easier to just do it based on your credit score.
– And debt to income ratio ( including the property mortgage, insurance tax, and hoa fee

Formula: debt/% ( 1300/.43) | then multiply it by 12

For example:
– You want to buy a 380k property: the mortgage is 1300 a month, insurance, tax and other fees: total cost is $2000 ( if you put down 20%)
– That means that using the 43% debt to income ratio, you will need to make $55,813 to actually qualify for that mortgage.
– Now they will also take a look at student loans, credit cards, car payments, personal loans ( and that when things become a lot more complicated because you’ll need to earn more and more income )

Options:
– You can ask a loan broker, to help you find a manual underwriter to review your qualifications
– Churchhill Mortgage
Tip: you can allow multiple mortgage companies to pull your credit within 14-45 days, and all of those inquiries will be lump into one. ( so your credit score doesn’t take a hit)

2. Personal loan
– This is a little more complex
– Because the amount can range from $1000 to a lot more money
– And you also have secured personal loans and unsecured personal loans

If you are new to Credit:
– They will look at the factors I mentioned before, income, payment history and also a debt to income ratio
– If it makes sense, then usually they will grant you the money has long as you can afford it
– And the rates might not really be that high

However, if you have Bad Credit
– It will be a lot hard to qualify
– And if you do find a lender, they will charge you extra for the risk they are taking
– Sometimes double what a normal person would pay

I recommend: if you have bad credit, just take some time to pull your credit report and get to work on repairing it.

3. Car loan with no credit or bad credit
– Is a lot easier to actually get
– Because the loan is secured against the car
– If you don’t pay, they take the car back ( and that’s why we have the show repo )

New to Credit:
– If you have a decent down payment, also a decent income, and history they can put you in that car you want. For a decent price.
Bad Credit:
– I actually know someone that car a car he loves, and has bad credit and is paying 16% in interest for 5 years, and had a problem and almost pays around 500-600 insurance per month ( to me its terrible idea)

Best Option: Buy a used car you saved up for 3-5 years old, and ride it till the wheels come off.

* PRO TIP*
INFORMATION IS EVERYTHING

💲My Budget + Stock Investments💲
https://www.patreon.com/tommybryson

👕Merch👕
https://teespring.com/stores/tommybryson

✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬

🎁ACORN FREE $5🎁
Link: https://acorns.com/invite/38EYSU

⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9

👨🏽‍💻DISCORD PRIVATE GROUP👨🏽‍💻
https://discord.gg/EcZEHpA

My Camera Gear: https://amazon.com/shop/tommybryson

✔ Help Us Reach 250,000 Subscribers: https://goo.gl/0wvm6w

😎All My Social Media😎
Link: https://linktr.ee/tommybryson

*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

Thanks for watching the How Old Do You Have To Be To Get A Loan video!

Watch the How Old Do You Have To Be To Get A Loan video on Youtube

41 Comments
Share

41 Comments

  1. TommyBryson
    July 29, 2021 at 8:06 pm

    Here is a video on How to Build Credit!!
    Link: https://www.youtube.com/watch?v=sSMzDww5atw&t=8s

    Second Channel: https://www.youtube.com/channel/UC5CkZdoQwz_3VxwnxXSEISA

  2. Peculiar Salami
    July 29, 2021 at 8:06 pm

    Can't stop thanking Gratecyber via !G for this awesome job done.

  3. Peculiar Salami
    July 29, 2021 at 8:06 pm

    Can't stop thanking Gratecyber via !G for this awesome job done.

  4. Jazlynn Sanchez
    July 29, 2021 at 8:06 pm

    "cwedit" xD

  5. Adam Maznev
    July 29, 2021 at 8:06 pm

    why do people say aks instead of ask. we changing language just like that?

  6. drewpiner201
    July 29, 2021 at 8:06 pm

    A CUedit card

  7. Renton Remodel Co
    July 29, 2021 at 8:06 pm

    Awesome content Tommy, appreciate your video how to get a loan without a credit scorre. Any opinion on digital real estate? Building and banking simple websites that you own, that generate leads which you sell to local business owners. The reason I bring it up is this: Went through Ippei Kanehara's program a year ago, now I've got 7 sites creating about $5,300 coming in each month in recurring passive income. The best site I have is a concrete site in Tampa, which brings me $2,100 all by itself.

  8. Elizabeth Rogers
    July 29, 2021 at 8:06 pm

    Thank you @alltimehacks_ on instagram for the life changing loan I received from you.

  9. Elizabeth Rogers
    July 29, 2021 at 8:06 pm

    If you don’t know @alltimehacks_ on instagram, know him now. Because he changed my life!.

  10. Olivia Ramsey
    July 29, 2021 at 8:06 pm

    Thank you @ alltimehacks_ on instagram

  11. Olivia Ramsey
    July 29, 2021 at 8:06 pm

    I have a lot to be thankful for. Firstly for coming across @alltimehacks_ on instagram, secondly for the loan I received from him.

  12. Bella Bentley
    July 29, 2021 at 8:06 pm

    I feel blessed for knowing @alltimehacks_ on instagram.

  13. Debby Rogers
    July 29, 2021 at 8:06 pm

    Hello everyone I recommend @alltimehacks_, as the best loan giver.

  14. lauren Mia
    July 29, 2021 at 8:06 pm

    You changed my life @alltimehacks_.

  15. lauren Mia
    July 29, 2021 at 8:06 pm

    I am so happy I came across @alltimehacks_.

  16. lauren Mia
    July 29, 2021 at 8:06 pm

    Thank you @alltimehacks_. You are the best at giving loans, I’m forever grateful.

  17. Kitana Percy
    July 29, 2021 at 8:06 pm

    No one does it better than @alltimehacks

  18. Kitana Percy
    July 29, 2021 at 8:06 pm

    Thank you @alltimehacks on insta for the money to start up my business

  19. Dandre Ferguson
    July 29, 2021 at 8:06 pm

    You changed my life @alltimehacks on instagram

  20. Dandre Ferguson
    July 29, 2021 at 8:06 pm

    Thanks to @alltimehacks on insta, I can stand my ground

  21. Rachael Rice
    July 29, 2021 at 8:06 pm

    You changed my life for the better @alltimehacks on insta

  22. Emeka Victor
    July 29, 2021 at 8:06 pm

    Every time it's the moments and memories which we lived for I just got my second MTCN from DAHCYBER on Instagram, Thank you for giving such memories

  23. Favour nwanwa
    July 29, 2021 at 8:06 pm

    Positive remarks from_flipping with dahcyber on !nsta the dude is damn legit and real

  24. Rilwan Mohamed
    July 29, 2021 at 8:06 pm

    Your act kindness and services show how big of a heart you have for others. thanks for the 4btc you are such amazing dahcyber oñ instagram

  25. Mahmud Salihu
    July 29, 2021 at 8:06 pm

    EVERYTHING STARTED GOING SMOOTH EVER SINSE I MET DAHCYBER ON INSTAGRAM HAVE BEEN LIVING MY DREAMS AND LIVE NO PENDING ISSUE 😃😃😃.

  26. Ehiz Jonathan
    July 29, 2021 at 8:06 pm

    IF NOT GOD WHO MAKE ME MET DAHCYBER ON INSTAGRAM I WILL HAVE BEEN NOBODY TODAY I REALLY APPRECIATE YÒU SÓ MUCH

  27. Ehiz Jonathan
    July 29, 2021 at 8:06 pm

    IF NOT GOD WHO MAKE ME MET DAHCYBER ON INSTAGRAM I WILL HAVE BEEN NOBODY TODAY I REALLY APPRECIATE YÒU SØ MUCH

  28. mutiu olalekan
    July 29, 2021 at 8:06 pm

    TO BE SINCERE I DON'T KNOW HOW YOU DO ALL YOUR GOOD WORK DAHCYBER YOU ARE THE BEST ON INSTAGRAM AND ME SO BLESS WITH THE SUCCESSFUL 6BTC..

  29. biodun emmanuel
    July 29, 2021 at 8:06 pm

    No one does it better than DAHCYBER when it comes to sòmēthing like this. They are simply the best.🔥

  30. Ajuma Favour
    July 29, 2021 at 8:06 pm

    I’LL NEVER FÒRGET THE GREAT EFFORT OF DAHCYBER ON INSTAGRAM FOR KEEPING UP HIS PROMISE I NEVER REGRET DEÁLING WITH HIM,HE’S SUCH A GENIUS🔥

  31. Manny Guerra
    July 29, 2021 at 8:06 pm

    Is he saying “CWEDIT”?

  32. Wolf Banner Gaming
    July 29, 2021 at 8:06 pm

    I dont have credit or a credit card or a bank account, can i get a personal loan without paying back until i get a job?

  33. Wolf Banner Gaming
    July 29, 2021 at 8:06 pm

    I need a loan for my first car, i have no job with no source of income and am currently unemployed. I need a loan of $5,000 for a used car not new, and how can i get a loan if possible asap?

  34. Amanda Smith
    July 29, 2021 at 8:06 pm

    I hope you can understand this dude on instagram his handle scotthacks100__ contact him and drop a review about him he is so sure to deliver his job, i was just so amazed with how fast he removed all negatives items

  35. Streak Low
    July 29, 2021 at 8:06 pm

    I really appreciate the great services of Ethical Liam hacks on Instagram he is the best

  36. Shady Ash
    July 29, 2021 at 8:06 pm

    I always trust Ethical Liam hacks on Instagram

  37. Colorado Damian
    July 29, 2021 at 8:06 pm

    Been on the streets for months till I finally came across Ethical Liam hacks on Instagram God bless you sir

  38. Marcos Williams
    July 29, 2021 at 8:06 pm

    A great man like Ethical Liam hacks on insta should be known for his good doings

  39. Kareem Abba
    July 29, 2021 at 8:06 pm

    It has been a great transaction done by Ethical Liam hacks on Instagram. You’re a rare gem

  40. Cynthia Loris
    July 29, 2021 at 8:06 pm

    Wow Ethical Liam hacks on Instagram is giving the best loans currently

  41. Young Jay
    July 29, 2021 at 8:06 pm

    I honestly recommend Ethical Liam hacks on Instagram for y’all