I have a buyer for our investment home that is young (19) and has a 676 score with only one open trade line. No lates. Basically he is just getting started in life and thats why the lack of credit history. He is employed but it may be hard to provide pay stubs. He has a $13,000 car he owns free and clear with a little in the bank. Can he get a 0 down mortgage? Or, since the house is free and clear, can he do a re-finance if the house is quit-claimed to him?
Can a lender out there give me some advice? I am in Michigan.