Bad credit but can put a sizable down payment on a rental house with a long term aggrement. Is this doable with bad credit?

Asked by d.c.reed2012, Tomball, TX Tue Oct 1, 2013

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Howard Persky’s answer
Howard Persky, Agent, Sugar Land, TX
Tue Oct 1, 2013
It may be possible. Rentals are handled independently by the Landlords and each has his own requirements for credit, criminal history, and rental history. Some Landlords value the rental history more than credit score but generally require more "up front" money as added security. You just need to have your real estate agent ask those questions of the listing agents prior to spending time and money.
0 votes
Don Groff, Agent, Austin, TX
Thu Oct 3, 2013
It all depends... each home is owned by an individual so I would recommend you write an honest and sincere letter of explanation with what happened and the actions you have taken to ensure it will not happen again. Everybody has setbacks and there is most likely somebody who will give you a chance if you can show that you deserve one.

Hope this helps.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference:  http://www.AustinListed.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Oct 3, 2013
Depends on just how poor the credit is; also much will depend on the landlord/building, each is different; however you can consider being upfront regarding your credit; be prepared to show proof of employment/pay stubs; possibly pre-pay some of the rent; possibly offer extra security; have some reference letters handy; consider a guarantor, etc.
0 votes
Carla Pasos, Agent, Conroe, TX
Thu Oct 3, 2013
Feel free to contact me a call to discuss your needs and see how can I help you.

Carla Pasos
Keller Williams Realty
mapasos51@gmail.com
(832)474-2840
0 votes
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