Home Buying in El Paso>Question Details

Carmen Gibson, Renter in El Paso, TX

My husband and I have a good income of about 75,000 per year for a family of two however our credit score is low due to the housing crisis and economy

Asked by Carmen Gibson, El Paso, TX Wed Jan 9, 2013

In California. We relocated three years ago to El Paso renting a home from the owner who now needs to move back into their home. Will we have trouble renting now?

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Answers

5
Hello Carmen, you shouldn't have any trouble renting because of a low score. The majority of the property management companies understand that a low score is one of the main reasons a person is looking to rent instead of buying. In our office we would base our decision considering your rental history, monthly income and the ability to pay your monthly rent.
Also there are some lenders that will work to get you approve for a mortgage loan, even with a 580 credit score if you are interested.
Call, text or e-mail me if you need help finding a rental place. Our office property manage over 70 properties, and if you want to see your options on buying instead of renting we are here to help too.

Success Realty Inc.
915-253-5245
0 votes Thank Flag Link Wed Jan 9, 2013
You should think on buying a home instead of keep on renting, there are several options I'll be glad to talk to you about.
However, my company has a large inventory of rental properties as well, so we may find a way to accommodate you and family in one of these if this is your choice.

Jose E. Garza
REALTOR
KB Realty.
(915)227-4535
0 votes Thank Flag Link Wed Jan 9, 2013
Hi Carmen it just depends on who the landlord is. Give me a call so we can talk about your needs. :)
0 votes Thank Flag Link Wed Jan 9, 2013
Hi Carmen ; Great question. Quite honestly, I don't think you should have any problem renting elsewhere. Out of everything they'll be examining, rental history will be a big key !

Feel free to contact me with any additional questions.

Jorge Reyes
915-491-5522
Jorge @TheRealEstatePowerHouses.com
0 votes Thank Flag Link Wed Jan 9, 2013
Carmen,
Landlords each have their own criteria for what they consider is acceptable credit. Some will see a low credit score and reject you out of hand. Others will look at your recent history of renting (get references) and a letter you should prepare explaining your circumstances, why your credit was damaged and what you've done since then to resolve it and give you fair consideration.
If you have a difficult time, consider offering a larger damage deposit or a few months rent up front.
0 votes Thank Flag Link Wed Jan 9, 2013
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