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Credit Score in Chandler : Real Estate Advice

  • All381
  • Local Info18
  • Home Buying139
  • Home Selling14
  • Market Conditions14

Activity 2
Mon Aug 8, 2016
Steve Bernstein answered:
Low credit score mortgages are available in AZ, But these loans require higher down payments and interest rates. If you instead spend the next 4 to 6 months working on increasing your credit scores, you will likely be surprised how quickly your scores will increase!

7 Ways To Increase Your Credit Scores Quickly:

1. Pay down Revolving balances to 50% of credit lines.
2. Pay off small collections and request paid in full letters.
3. Pay off Collections & Judgements after negotiating reduced.
payoffs, &/or letters stating accounts will be removed from bureaus.
4. Build 3 Positive accounts by running small balances and paying
at least the minimum monthly payments on each card every month.
5. If you don't have 3 opened accounts, try to open, use & pay a
couple of retail store accounts &/or secured credit cards.
6. Don't run additional credit Inquiries until you are ready to apply
for your mortgage as each inquiry reduces your credit scores.
7. Then contact Steve Bernstein at
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Fri Aug 22, 2014
Troy Erickson answered:

Morgan has provided you with some great information regarding your question. I would just like to add that hopefully you are working to improve that credit score so it will not be an issue in the future. Some other things that would help you qualify as a tenant are if you have a long history with the same employer, and that you have previously lived in the same place for a while. Be prepared to explain up front your credit deficiencies so any potential landlord might have a better understanding.

I hope you were able to find a rental home to suit your needs.
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