Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Credit Score in Austin : Real Estate Advice

  • All2K
  • Local Info182
  • Home Buying768
  • Home Selling118
  • Market Conditions60

Activity 18
Thu Dec 1, 2016
Charleenkennedy answered:
Notice, that all of these loan officers are soliciting your business, but NONE of them are telling you how to fix the problem. AND NONE of them are telling you that they will be pulling your credit for a second or third time, which will reduce your score. Stay with your loan officer, if you already have one. Ask him/her to look at their credit simulator to verify how to improve your score. Then make those changes, then request a rapid re-score. Yes, you can improve it in less than 30 days to a 620. Important to pay off collections, etc. You can also write a letter of explanation for any delinquencies and place it on the bureau. There are several things you can do. ... more
0 votes 25 answers Share Flag
Wed Aug 12, 2015
Susie Kay answered:

I would suggest that you talk to a lender or two to see where you are at. You can start by calling your bank and go from there.

Good luck!
0 votes 3 answers Share Flag
Thu Sep 18, 2014
Scott Bradford Team answered:
Did you have a previous SSN when these delinquency were made?

Are these delinquency legitimate?

If you feel the information on your credit report is incorrect you should file a dispute with the credit bureau. ... more
0 votes 2 answers Share Flag
Sat Jun 21, 2014
Anna M Brocco answered:
Thank you for your service. As to the credit, much really depends on the individual landlord/building, each is different and some are stricter than others; if all else fails you could consider a guarantor... ... more
2 votes 1 answer Share Flag
Wed Apr 2, 2014
Mark DeWitt answered:
Hi Edson, Yes you can obtain a foreign national mortgage for a second home in the United States. No credit score is required, SSN or ITIN is not required, no minimum loan size, the maximum is determined by where you purchase, and terms of 30 or 15 years are available. You can borrower up to 70% of the value of the property and first-time homebuyers are allowed.


Mark DeWitt
V.P. Branch Manager
HomeStreet Bank
(858) 212-7054 Direct
(760) 331-2063 Fax
NMLS #633211
... more
0 votes 8 answers Share Flag
Fri Mar 7, 2014
Linda Fisher answered:
Credit restoration is one , some are free some are rip off , be careful, you don 't want to b e in more problems

0 votes 7 answers Share Flag
Thu Jan 16, 2014
Linda Fisher answered:
Austin, Texas is a beautiful City , If you decide to come to the Houston, Humble area give me a call It would be my pleasure helping you.

0 votes 13 answers Share Flag
Wed Jan 15, 2014
Jean Paul Ho answered:
Why rent? Is there anyone giving money to rent? Any tax deduction? Rent KEEPS going up in Brooklyn? Own CHEAPER than renting - You are in a fixed income- You NEED a FIXED mortgage! While building EQUITY? Find out if you Qualify for up to $ 65,000.00 in grant money (You do not have to repay-subject to condition & terms) Would you hate to find out that you qualify AFTER closing on your house & it's too late? How would you feel paying more than everyone else? We have helped MANY..... family OWN when they thought that they can only RENT!!! START the New Year right & make a difference for your family! Leave a LEGACY to your family!! Free Homebuyer's Seminar
3:00 pm. THIS Sunday 1/19/14
Come find out:
How to qualify for up to $65,000.00 in grants (Do not have to pay back - Subject to certain restrictions)
Get Pre-approved & lock in your rate (Rates are going up)
Sonyma, FHA, FHA 203, Renovation Loan, VA loan & much more
Citilift, HomeFirst, NACA ,Saving , Credit counseling & more!
THIS SUNDAY Jan. 19 th,2014
Brooklyn Real Property
389 Atlantic Avenue
Between Bond and Hoyt
To RSVP Call (718) 875-8899

Visit over 2000's listing!
Brought to you by "Brooklyn REAL Property,Inc."
WE care about our community & give back by EDUCATION
... more
0 votes 10 answers Share Flag
Sun Aug 18, 2013
ryateslenders answered:
In short Yes.. I know several lenders that can go down to a 580 credit score for a refi with a few other requirements but I see people at 580 get approved daily... If you need any help email me or visit our site ... more
1 vote 7 answers Share Flag
Thu Jun 13, 2013
Don Groff answered:
Hello Need Help,

There are a lot of things you can do. First is to fully understand where you are now. Looks like the foreclosure is in the rear view mirror and that is good. Each month it has less and less of an impact on your credit and would not keep you from being able to refinance today.

First, you should establish credit with and get a secured credit card if you have not already done so. I have answered many questions like yours in the past so you can go into my archives here on Trulia for a more detailed explanation. Having your cars paid off is not a bad thing but in your case you probably need some active trade lines. Establishing credit in the form of a secured credit card that reports to the credit bureaus and an installment loan would help your scores a great deal. Make sure if you open a secured credit card with a bank that it #1 reports to the credit bureaus and #2 that you never charge over 35 to 40% of your available credit in any given month. This will help you get the best jump in your credit scores. Charge over that and your credit will not improve as the percentage of your utilized credit is a major factor in your credit score.

Please note that Free Credit will not give you your actual credit scores. In fact your real scores are probably lower than what they are stating. This because they use a credit model and not the exact credit formulas the bureaus use. Your actual credit could be 30 to 60 points lower so just be aware of that fact.

You can use credit sites like, this site is run by TransUnion and you can get your TransUnion score for free on this site. It's great but also even though it is run by TransUnion the credit score is a model and not exactly what you will have when an actual credit report is pulled. CreditSesame is another similar site run by Experian and it does the same thing. So both of these sites are run by the credit bureaus so they are safe to use. To pull a free actual credit report once a year go to this site is run by all 3 bureaus. Now your free yearly credit report will not have a score unless you pay but this is a good site to check into once a year and with all 3 of these sites you can drop your other paid membership at as I think it's anything but free unless I'm mistaken.

Anyway, hope this helps. I am a mortgage broker and Realtor so if you would like to discuss your credit in further detail please let me know. I have refinanced many owner financed clients in the past and would be happy to help you.

Best of luck to you.

Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 |
websites: |
... more
1 vote 4 answers Share Flag
Sat Apr 27, 2013
The Roman Lopez Real Estate Team answered:
Hello Tory,

I'd be more than happy to put you in touch with a local credit advocate that I use for buyers like yourself. They have a high success rate. I have several current home owners who went through the program.

Roman Lopez
(512) 947-2250
... more
1 vote 4 answers Share Flag
Sat Apr 27, 2013
Christina Hayes answered:
Actually the credit card payment will hurt your score more as credit cards aka revolving credit make up 30% of your credit score and installment loans such as a mortgage make up 5% of your credit score. Though being late on neither is a good idea. If you are planning to become late on either of these, you may want to call the credit card company and ask for an extension in which a late will not be reported. Be sure when you ask for the extension that the late is not reported. A mortgage lender can do the same but you will have to talk to a manager in the payment department. As long as you are communicating with both of these companies you can avoid late payments being reported to your credit reports.

Best of Luck;

Christina Solorzano;
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
Ex-Mortgage Banker of more than 10 years.

PS I have a picture on my profile (I believe) if not it is on out site that breaks down a credit score in lamens terms.
... more
0 votes 2 answers Share Flag
Tue Jun 26, 2012
Don Tepper answered:
No. Absolutely not.

First, as already noted, credit scores are calculated by private entities. The government's not going to tell Experian, et al., to raise the credit scores of certain people by x number of points. Just won't happen.

Second, and more important, the borrowers lost their homes due to bad decisions on their parts. Mark, Mack, and the others have it right. Just because something's offered to you doesn't mean you have to take it. There were plenty of homeowners who resisted the siren song of "free money, credit to all, make a fortune." They made appropriate decisions and their credit scores reflect that. Others made poor decisions, and their credit scores reflect those poor decisions.
... more
0 votes 7 answers Share Flag
Fri Feb 10, 2012
Michael Estes answered:
There are 100% financing programs that have specific criteria, talking with a Mortgage Expert will determine which you and your boyfriend qualify for.
Did you know that 85% of home buyers over pay for their mortgages? This is just one of the many costly mistakes buyers make, even when they have an agent. There are 23 Common Mistakes buyer make with buying, I offer this free no obligation report to help. You can click on the link to see how.
Learn how The Maximum Choice Home Buying Systemâ„¢ can save you up to tens of thousands of dollars on the perfect home and the perfect loan
When it comes to buying and financing a home there are literally hundreds
of choices to make.
The Maximum Choice Home Buying Systemâ„¢ has been specifically created to help you make more informed, conscious, and prudent real estate decisions that balance your lifestyle needs with smart financial decisions.

If you were hiring a financial consultant to invest your retirement money wouldn't you want to hire someone with proven expert knowledge who could demonstrate to you the financial investment systems and process they use to invest your money? Why should it be any different with your REALTOR.

Choose an Expert -- Less than 1% of REALTORS are
exclusively licensed to use The Maximum Choice Home Buying Systemâ„¢
Only a few real estate professionals in each area have been selected and trained to use this exclusive nationally branded home buying system. Each agent must commit to a rigorous training and education program that requires hundreds of hours of training annually to master each element of the home buying process.

Selecting the right real estate agent could be one of the biggest financial decisions of your life. You could be risking one of the largest investments of your life by choosing an agent who is not trained in The Maximum Choice Home Buying Systemâ„¢.

The future of home buying belongs to real estate professionals who are true experts in the entire process of buying your property from:

•Understanding economic and housing market research
•Identifying your true lifestyle/quality of life needs
•Smart search and selection process
•Evaluating lenders, loan options and fees
•Assessing future homeownership costs and responsibilities
•Analyzing "Your Home as an Investment" scenarios
•Negotiation and offer strategies
•Property due diligence process
•Closing & Legal Process
•Expert vendor selection
•Helping you save time, money and stress moving into your home
•Resources to make your future home ownership experience more enjoyable

Click on the Link below to learn more.
... more
0 votes 21 answers Share Flag
Fri Dec 9, 2011
David Schneider answered:
Hi Mr. Garcia,

Lots of good answers here. One of the most important factors is going to be your job history and your debt to income ratio. I have worked successfully with lenders who have gotten loans in that credit score range, but the critical factors mentioned above were the deciding factors as well as no late payments or charge offs for 12 months...

Feel free to call and get more info...512-638-6585. I would love to help you out.

... more
0 votes 13 answers Share Flag
Fri Jul 1, 2011
John Crowe answered:
Good options below, especially the reminder to be honest and upfront. Another idea to consider is paying in advance - maybe 2-3 months rent or more - as an insurance policy.

I had a tenant with some rough history and used this method. She paid 3 months in advance plus an inflated rent (10% more) for months 4-6. By that point, she had established herself as a solid tenant, built up a nice safety net for me and I was comfortable returning to a normal pay schedule. ... more
1 vote 5 answers Share Flag
Wed Jan 19, 2011
Kevin answered:
There are a lot of good answer should you have the time to read through thems all...
In a nutshell you want your scores to be between 620 and 640 for the majority of the loans...
Depending on your income there is also the option of going with one of the Bond Programs...
My suggestion is to get with a lender who is going to be honest with you up front...
Should you find a lender that tells you everything you want to hear, walk away and find another lender...
If you need a couple of good lenders to talk to in the Austin area drop me an email
... more
0 votes 9 answers Share Flag
Search Advice