I am renting a home to own and my credit score is only 602 can I get approved with my score

Asked by p ocon, Boston, MA Tue Feb 19, 2013

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6
Connie Fitzg…, Agent, California, MD
Tue Feb 19, 2013
Possibly. It depends on your lender.
1 vote
Heath Coker, Agent, Falmouth, MA
Tue Feb 26, 2013
This is a lender question.
I would contact a local lending professional to help with this answer.
There is not enough detail in your question.

I know this guy can be helpful: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell


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0 votes
Christine Mo…, Agent, Wilbraham, MA
Thu Feb 21, 2013
Check the contract you signed. If you can't buy the house they many not want to rent for ever or can evict you and keep your downpayment deposit. All depends on what you signed. Start working with someone now to get in the position to buy.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Tue Feb 19, 2013
Are you saying you are currently in a rent to own house and you need to get a loan to be able to buy the house per your rent to own contract? If you can't get a loan then you can not buy the house and you could default on the contract to buy it, this is the largest pit fall with rent to own that many don't understand when getting into one - you have to get a loan to be able to buy it.

When does your contract say the house must be purchased? What happens if you can't purchase?
0 votes
sorry about posting reply 2x!
Flag Tue Feb 19, 2013
I have a lease that says I can buy at anytime ..the landord is putting away 500 per month toward my downpayment,it is(lease will end 4/13) a 2yr lease and says nothing about if I do not purchase
Flag Tue Feb 19, 2013
I have a lease that says I can buy at anytime ..the landord is putting away 500 per month toward my downpayment,it is(lease will end 4/13) a 2yr lease and says nothing about if I do not purchase.
Flag Tue Feb 19, 2013
Greer Swiston, Agent, Newton, MA
Tue Feb 19, 2013
Actually, I would introduce you to http://www.seacoastmortgage.com/ and their credit repair program. Many people do not realize that some simple behavior changes would improve their credit score IMMENSELY.

Ask for either Ian or Ann and tell them I'd sent you. They are great people and are about more than simply getting your a mortgage.
0 votes
Richard Shap…, , Framingham, MA
Tue Feb 19, 2013
Probably but getting your acre up to 620 or better 640. Would give you more places. We have a credit score analyzer that helps identify corrections to make that could improve your score quick.
0 votes
could you send me more info @ sensorgirl30@hotmail.com please
Flag Tue Feb 19, 2013
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