Cross Country Mortgage
323 546 8066
Specializing in Illinois and California
RATED A+ WITH THE BBB
*We do Conventional loans down to a 620 score
*We do FHA loans down to a 580 score
*We do USDA loans down to a 620 score (no money down)
*We do $100 down payment FHA program
*Unlimited Loan To Value refinances on Fannie/Freddie refinances (only on loans originated before May 31st 2009
*We do VA loans down to a 600 score
*We give free counseling on what needs to be done to improve your credit score.
*We do 203k loans down to a 640 score
*We do reverse mortgages
*We do JUMBO loans to 12 million
*Closing loans in 3 - 3.5 weeks
For mortgage help, call (855) 893-1177 or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states and you can apply online at http://www.myccmortgagebn.com. We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 893-1177.
Crosscountry Mortgage Inc.
Phone: (855) 893-1177
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | firstname.lastname@example.org
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
He was fine with that. Their story made sense and their income supported the rent so they now have a new home and their old home short sale will be completed in a couple more weeks.
Find a good agent that will go to bat for you. Tell them about your circumstances so you can position that to prospective landlords. More people are renting now so landlords have more options. If necessary you can also get a co-signer.
Good luck to you.
REALTOR | Mortgage Broker | Consultant
Buy - Sell - Lease - Invest
Keller Williams Realty | 360 Lending Group
Good luck to you.
Do be prepared to be asked to rent for at least a 1 year contract and be prepared for some non refundable deposits, this is worthwhile however since land lords who require this often are more responsive to your needs and take better care of their properties and their renters than folks who will just rent to any one.....
If you have poor credit be prepared for the following:
1. Double to triple rents for deposit
2. 1st months rent
3. Pet deposits
All of these are paid up front prior to move in
RECOMMEND : Use a Realtor there are many scams out there for renters we have had over 7 families with loss of $xx,xxx believing they were leasing from a property owner IT WAS A SCAM
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
You've received some great advice. If you have bad credit, I believe an important point for the landlord is where you are living not, how much rent you are paying & why you want to move.
Also, be aware that many landlords are starting to use Management Companies to handle their rental properties. It has become a reasonalble cost -- only 10% of the monthly rent. Those companies don't have a heart-- they only look at the data they gather. When you look for a place to rent, you may want to concentrate on the landlords who only have one or two rental houses, doubles or a fourplex to will listen to your bad debt story.
Used to be that anyone with bad credit was required to buy a home with Countrywide as the lender.
Of course you can rent. What do you think's happened to many/most of the people who've done short sales or been foreclosed upon? They still have to live somewhere, and they're not all living with their relatives.
There's a lot of good advice below. One thing I'd add is that some investors (and thus some landlords) have different categories of "bad credit." For instance, if you'd had good credit and then something bad happened--job loss, illness, etc.--that damaged your credit, but now you're rebuilding it, that's a good thing. That's forgiveable. On the other hand, if someone is a habitual deadbeat--consistently skipping out on landlords, regularly not paying bills on time--that's bad. To the extent possible, you want to show that you fall into that first category . . . that you know what good credit is, that you're on your way to restoring your credit, and so on.
Hope that helps.
You will find leniancy with landlords rather than corporate owned rentals. In this case, renting is a personal arrangement with another individual. If you can work the personal relationship and show them that you are good on your word, anything is possible.
You can do things like offering to pay 2 months security deposit or something else that would show your positive intentions to getting a fresh start. If you are having problems finding a place try to think outside the box for new ways to appeal to landlords or apartment owners to make yourself more appealing. In the end if you have a good rental history that will be your best asset to show to a potential landlord.
You should be up front with the landlord about your situation adn maybe offer an additional month security deposit to rent the home. You would be lightening the risk the landlord feels they are taking by renting the place to you.
Landlords look at your credit report as a basis of how you repay your bills and feel that track record will carry over tou you paying on your rent....If you have special circumstances that casued your situation let them know up front as well.
If the prospective landlord doesn't mention running credit, no need to bring it up but in order to get good references, you will need to have a good rental history.
When the real estate market was better a few years ago owners were a little more tight on credit. Today many families have lost their homes due to foreclosure and those families are out looking to rent homes.
I have seen many home owners rent to people with troubled credit just because they see things a little different then what a bank does. Maybe the family lost their home to a $2,500.00 mortgage payment, but they can afford $1,500.00 a month rent. A bank would most likely deny you for "any" credit because of the credit history, but a home owner who's renting their home may have a little more understanding.
I always recommend to my landlords to get a credit report on any potential tenant(s). I also tell them not to rule anyone out solely based on their credit score, they need to take into consideration the circumstances. As stated before there could be legitimate issues. I also tell any tenants that I am representing to be honest with the landlord and tell them up front of any issues. Most landlords are willing to listen and if you can offer a larger security deposit, etc, then they will probably work with you to get you.
I hope this helps and good luck to you!
Keller Williams Realty
I have read that some people with bad credit end up living in hotels because that is the only way they can rent. Not sure if it is true or not.