Credit Score in Houston : Questions & Answers

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Sue Roddy, Real Estate Pro in 77014
Sue Roddy answered:
I am looking for a rental home,not apartment I have bad credit due to divorce,I do make 60,000 a year and have good rental history.any suggestions?
Bad credit will not automatically prevent you from renting. If you are still looking for a property contact me and I can see what is available.

susan.roddy@century21.com
0 votes Share Flag Mon Jul 7, 2014 Credit Score in 77073
Michael Abra…, Real Estate Pro in Chicago, IL
Michael Abramsky answered:
First time home buyers with low credit score
Save yourself some money and fix your credit before getting a mortgage.

You can do it yourself or hire somebody else, your choice. But the benefit of a better credit score will help ... more
0 votes Share Flag Sat May 3, 2014 Credit Score in Houston
Tawnya Marney, Real Estate Pro in Houston, TX
Tawnya Marney answered:
Middle Credit Score 636, Can I Get A Home Built in Houston? ?
Hi Anjel!

I'm currently working with a client looking at those same builders, so I would love to help you. I can say without a doubt I can get you into a home on your budget! And, I ... more
0 votes Share Flag Tue Apr 29, 2014 Credit Score in Houston
Don Groff, Real Estate Pro in Cedar Park, TX
Don Groff answered:
Need to rent a house in Houston, We have bad credit at 500 and bad rental history, do we have an impossible situation?
I'm sure you can find something but you will need a good letter of explanation on why your rental history is so awful and be able to show how you have made the necessary corrections to ... more
0 votes Share Flag Fri Jan 24, 2014 Credit Score in Houston
gunus23, Real Estate Pro in Sugar Land, TX
gunus23 answered:
Need to rent a house in Houston, We have bad credit at 500 and bad rental history, do we have an impossible situation?
Call me am a realtor, I can help you lease a house. Call me 832-348-7062 Tony.
0 votes Share Flag Sat Jan 18, 2014 Credit Score in Houston
Alan Harper, Real Estate Pro in Sugar Land, TX
Alan Harper answered:
Is it absolutely necessary to payoff an ~$9,000 collection account before being approved by a lender regardless of credit score being above 620.?
Every lender is different. Some will not give you a loan with any collection accounts. Some will just look at the debt to income ratio. Get pre-approved through 2-3 lenders and see what ... more
0 votes Share Flag Sat Jan 4, 2014 Credit Score in 77077
Rebeccatrulia, Renter in United Amigos, Mesa,...
Rebeccatrulia answered:
how does preapproval for a mortgage affect credit score?
You can best answer from here.

http://www.reversemortgagelendersdirect.com/texas-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-loan/
http://www.re ... more
0 votes Share Flag Wed Sep 25, 2013 Credit Score in Houston
Michael Abra…, Real Estate Pro in Chicago, IL
Michael Abramsky answered:
If I pay off something in collections will it hurt my score
If the Date last reported on the account is within the last 6 months, paying it will improve your credit score. If the date last reported is over 2 years ago, paying the account may low ... more
0 votes Share Flag Thu Aug 22, 2013 Credit Score in Houston
Randall Yates, Real Estate Pro in Dallas, TX
Randall Yates answered:
I would like to start the process of buying my first home, starting first with tackling my credit score of 562.
First off where did you get your 562 score? Online or from a mortgage company, the scores online are not accurate at all and will differ from the scores in a mortgage credit report in s ... more
1 vote Share Flag Tue Aug 20, 2013 Credit Score in Houston
Trevor Curran, Real Estate Pro in Bronx, NY
Trevor Curran answered:
My credit score is currently 580, what are my chances for getting pre-approved for a home loan?
Good evening Johnathon,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the fo ... more
0 votes Share Flag Mon Aug 5, 2013 Credit Score in Houston
Brandon Jenk…, Real Estate Pro in Houston, TX
Brandon Jenkins answered:
will i be able to rent a house with bad credit will anybody work with me?
Shanda,

Yes you will be able to rent. Like the other agents are saying, you will likely pay a double deposit. I actually have a credit enhancement program, that will help you repair ... more
0 votes Share Flag Thu Jul 18, 2013 Credit Score in 77034
Randy Roberts, Real Estate Pro in Beverly Hills, CA
Randy Roberts answered:
My credit score is a 530 something, can I get help to purchase a home with this type of credit score?
I have a lender that has a program for credit scores between 500-579
90% LTV (loan to value) so you need 10% down
6 months of mortgage payments in reserves
43% max debt to income rat ... more
0 votes Share Flag Wed Jul 3, 2013 Credit Score in Houston
Mario Romero, Real Estate Pro in Houston, TX
Mario Romero answered:
What is my best option mid score 636 wife's is 685 ran into problems with collection accounts in "dispute" status?
Hello Tmalik,

If your wife's income allows you to qualify for a Conventional or the more flexible FHA loan with just her on the loan, then that would be a most pratical way.

Als ... more
0 votes Share Flag Sun Mar 17, 2013 Credit Score in Houston
Kay Harris, Real Estate Pro in Houston, TX
Kay Harris answered:
I recently heard about the NACA program from a friend. Does anyone know anything about this program?
My experiences with NACA have not been good. My advice would be for you to utilize one of the many other state bond programs or other down payment assistance programs that are availabl ... more
0 votes Share Flag Mon Mar 4, 2013 Credit Score in Houston
Tom Burris, Real Estate Pro in Dallas, TX
Tom Burris answered:
Will paying off accounts in collections lower your credit score?
No. Not 100%

I speak from experience too. As a 9 year veteran as a loan officer reading credit reports.

I have run score simulations for clients. Sometimes it lowers the score. So ... more
0 votes Share Flag Sat Feb 23, 2013 Credit Score in Houston
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Would it hurt my credit to accept a new cc at 0 % into rate while paying off another credit card?
This is a legal SCAM:
After 6months, or so, the interest rate will jump to 21% to 27%!!!!
YIKES!!!!

Caviat Emptor dudette.
0 votes Share Flag Mon Nov 12, 2012 Credit Score in Houston
Tom Burris, Real Estate Pro in Dallas, TX
Tom Burris answered:
I am married and my husband and i both have bad credit scores, his is mid 500s and mine is 620. Can i get a FHA loan if my mom cosigns with 715 score?
Tb,

http://activerain.com/blogsview/449665/fha-non-occupying-co-borrower
The above link is to an article I wrote: It is a little info about the' FHA Non-Occupant Co-Borrower Loan'.
... more
0 votes Share Flag Sun Jun 3, 2012 Credit Score in 77077
Kathleen Ham…, Real Estate Pro in Houston, TX
Kathleen Hamid answered:
Looking for approval on a $50,000 home.
Good Afternoon, Rosaliam.
Working on your credit...CONGRATULATIONS! If you will contact me I hope to give you some pointers to help you. I am not a loan officer or credit restorer... ... more
0 votes Share Flag Sat Jul 31, 2010 Credit Score in Houston
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