Chris215, Other/Just Looking in Fort Worth, TX

do i haveto have good credit?

Asked by Chris215, Fort Worth, TX Fri Mar 30, 2012

Help the community by answering this question:


After you turn 18 years old.... life is based on your credit scores NO matter what you do

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
1 vote Thank Flag Link Fri Mar 30, 2012
The answer is definitely "Yes", But speak to a Mortgage Lender at your bank for details. The Lender can also give you tips on how to "repair" your credit rating.
0 votes Thank Flag Link Sat Mar 31, 2012
Harold -- The answer depends on what the question really means. (Read my previous resonse to this question.) Calling in a loan officer at a bank is premature in this case. All that will do is put another "inquiry" on his credit report,and lower his score even further. Banks don't help you raise your credit score! I'm sorry, but your reply sounds a bit naive. Please contact me for further information -- if you would l ike to be of help to your customers!

Rick DeVoss
---The Michael Group

Flag Sat Mar 31, 2012
Dear Chris,

The answer is probably "Yes", but it depends on what you are trying to do, and whose definition you are using. Dan's answer below is pretty good, but I never like "answers" from people who do not practice in Texas, as they don't know the laws here.

The bottom line is this: You need to consult with an experienced Realtor who is willing to work on credit issues with you.

You didn't specify what you want to do, but if we can assume your credit score is "low" since you asked the question that way, then you will need to rent housing for awhile and work on bringing your credit score up before you can be approved for a loan to buy a house. (The other solution is to pay a lot of cash, but most people who have low credit scores do not have a lot of cash stashed away.)

Some lenders have a different definition of what constitutes acceptable credit. Every landlord has their own idea of what kind of credit a tenant has to have in order to lease their property to them. There is no magic number or cutoff point.

But there are ways to raise your credit score. I am a Certified Instructor in Credit Repair, so if you will contact me, we will get started working on your credit report. I can show you how to do that for "free", and you can do the leg work without paying some company a bunch of money.

We need to define what you want to do in Real Estate terms, and then we'll set appropriate goals. I have 32 years of experience selling and leasing houses in this area. Please feel free to call on me. We can find you a nice house. We can also help you get your utilities hooked up with a good company and the best rates!

Good luck to you!

Rick DeVoss

---The Michael Group


IGNITE ...we light up the world...

0 votes Thank Flag Link Sat Mar 31, 2012
well, it depends on what you consider to be "good" (or bad) requirements are tighter these they should you might want to speak to a mortgage lender if you're asking about mortgages.

good luck!
0 votes Thank Flag Link Fri Mar 30, 2012
My guess is no, how did I do? Did I get it right?
0 votes Thank Flag Link Fri Mar 30, 2012
I'm not sure exactly what you are asking, but if you want to purchase your credit matters. It isn't a tough to get a loan now as it was a couple years ago, but it's still not as easy as it was in 2006.
If your credit is just okay, you may be able to get a loan buy your rate will be higher and options will be fewer.
Credit matters for rentals too, but each landlord will determine for themselves what they deem acceptable. If you had a BK or Foreclosure in your past, being up front about it, explaining the circumstances that caused the problem and an explanation of what you've done to make certain you can pay your bills going forward may help.
0 votes Thank Flag Link Fri Mar 30, 2012
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