Can I get a house with my trust fund even if I have no credit or rental history?

The short answer is yes.. the long answer is it depends on many factors.. how much do you receive, and how much are your current obligations. The lender will need to know this to determine your debt to income ratios... how long will your trust fund pay out.. it must pay for another 2 or 3 years for the lender to consider it income.. having no income and no score is a problem for most lenders, however, there are lenders out there that will do manual underwrites, and will use "Alternative" Credit, such as phone bill, utility payments, auto insurance payments, etc.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

If you need a loan you need a credit score

Hello Terri, I can help you get to where you need to be.....Please reach out to me and I can give you some guidance.Have a great day..Lorne

Look for a house in your price range, that is offered on lease-to-own or seller-carried financing.

Yes, Trust Fund income can be an acceptable form of income to qualify. It would be best to get one on one with a licensed loan originator to fully review your trust fund as well as your credit.Acceptance Capital Mortgage is licensed in WA so feel free to contact me for further assistance. jbodway@acceptancecapital.com

I am a local lender in Puyallup. Please call Sherri 253.292.4427 and we can discuss your situation.