Credit Scores

Child has an excellent credit score, but no income.

I have an income...but as we found out today, no credit score. Not a bad credit score, just no credit score. Apparently credit cards don't build your credit if you're responsible and pay them on time, and (car) loans over seven years old don't count.

That leaves us with basically four options as far as obtaining a house goes.

1. Wait a year to buy a house while I build credit by taking out loans I don't need and paying interest I don't want to. Note that credit scores are a black box, so this isn't actually guaranteed to give me a credit score.

2. Wait a year to buy a house while we save enough money to put down 20% on a home, jump through all sorts of crazy hoops to prove to our mortgage lender that I'm a responsible buyer despite the lack of a credit score, then almost double the amount of interest we pay on our mortgage.

3. Save money until we can pay cash for a house. Note that this would actually be our daughter's house, since given California prices, Child and I will be kicking the bucket about the time we finished saving. Since the plan is for Ash to be supporting us in our old age, not vice versa, this option is out.

4. Steal one under cover of darkness and move it somewhere convenient like the beach, or perhaps my work's parking lot. I'd have to look into how much it costs to hire someone to move a house though. And they'd probably run a credit check.