Closing on my first house!

[Brett Campbell]

So after house hunting for a little over a month, I just got the news today that my offer got accepted for my first house! This is my first ever experience buying a house and although the process isn't over it has been quite exciting so far. During the time I saw 6 houses total and made 1 offer on another home, but lost in a bidding war on a house that had over 10 offers. I felt pretty comfortable with what I was looking for and I knew what I wanted, so that is why I only saw 6 houses. 

The house has great equity and the VA remolded just about everything. The only thing is the kitchen cabinets need to be replaced. I will be able to "house hack" right away as I already have a roommate moving in with me, so that will help build my equity. It is a 3 bedroom/ 2 bath so getting a 2nd roommate will be a in my future plans.

I decided to pay the house in cash, in large part due to having no credit, which made it impossible to get pre approved for a loan. I would have liked to take a 15 year mortgage but given the circumstances that was not going to be possible. I do have one newbie question..

I was wondering in the future if I wanted to take a lien on the property would I have any problems because I do not any credit? or because I own the property that won't matter?

I am planning on building my credit but it is going to take a coupe of years, and the only way I would be able to buy another property would be to take a lien on my mortgage or find a private money lender. 

Thanks for reading,

Brett Campbell