Let's say you want to buy a starter home (at a reasonable budget for your income level) and have an excellent credit score of ~800, but you have zero history of taking an installment loan (student, auto, home, etc.), how significant is that to potential lenders?

Is a prospective lender likely to deny you a loan despite having an excellent credit score simply because you have no history of that kind of loan?

(I'm in the United States.)

  • Credit scores work differently in different places around the world. Where are you?
    – Vicky
    Commented Apr 16 at 11:19
  • I'm in the United States.
    – Donuts
    Commented Apr 16 at 20:05

1 Answer 1


There's no way to answer this since different lenders have different underwriting policies. For what it's worth, I haven't seen a mortgage where the requirements were that the credit history had to include specific items. Generally the score is calculated to represent the risk based on the information available. Anecdotally, I've been able to have a mortgage approved without any prior installment loans without any issues when I was in a similar situation many years ago.

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