The Community Loan Fund requires applicants who lack a traditional credit score to provide alternative credit, such as rent, car insurance, utility, cell phone or cable bills. “Because of our lack of credit, we had to provide Ron (Welcome Home Loans Mortgage Loan Originator Ron Thompson) with proof that we actually pay our bills,” said Dawn. ‘What extras can we afford?’ĭawn began the application in April. But with no credit, they doubted they would be approved. Through their experience on the Board of Directors at Breezy Acres Co-op in Epsom, Dawn and Gary knew that the New Hampshire Community Loan Fund financed manufactured homes in resident-owned communities. “We didn’t have bad credit, we always paid for everything in cash – we just didn’t have any credit at all,” says Dawn. The next step was finding financing, and the Thulins expected that not to be so easy. Dawn immediately started looking, and the couple soon settled on a new home from Concord Homes. We were too embarrassed.”įinding a replacement home was easy. “It should have been condemned,” says Gary. The seams of the ply board were pulling apart. The ceiling and walls were filled with mold. Their 43-year-old manufactured home was cramped, dingy and drafty. “We have no credit, who’s going to give us a loan?”
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