First-time homebuyers

Most first-time homebuyers are young couples without a lot of credit. They may have student loans or car financing, but not a lengthy credit history. Accredited home loans level the playing field for borrowers who lack top FICO scores or a sufficient record of paying on time. Lenders who turn down home-buying beginners are like employers who refuse to give eager high school students their first job because of a lack of experience. The question is, "How can students get experience if no one is willing to take a chance and give them a job?" Similarly, first-time buyers cannot be expected to build good credit histories and accumulate top consumer report scores without a lender who is willing to take a chance on that first home mortgage!