Can you lease a house with poor credit?
I was trying to buy a house but go tinvolved with the wrong mortgage broker and she lowered my score from a low 600 to some of them into the high fours and low fives GRRRR. Well I am currently living in a home owned by my mother but she wants to sell it so I am probably going to have to move out and I have two large dogs so I know my odds of leasing are much better than renting an apartment, I just want to make sure that people who lease out homes work with people with limited credit and if I explain it to them and they look at my inquiries then I know I will have to lease for at least a year to get my credit back up to where it needs to be to buy a home. I was just wondering if they tend to be more leniant of it the just look for broken leases or what not.
I worked with a mrotgage broker and she lowered my credit from low 600s to high 400s and low 500s she did this by sending me to several different programs, all I wanted to do was buy FHA and she said my DTI was too high and that it was hard and this and that I am jsut not convinced she knew what she was doing I later switched to another broker but by that time I was in the low 500′s and it was just rough trying to get it worked out. : (
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By P J, February 13, 2010 @ 8:08 am
Just how did this broker lower your rating so much??
It depends on the person who is renting the house. Astute LL’s pull a credit report and go from there.
Edited to add
That explanation only makes sense if your credit report was pulled over 20 times in a period that exceeded a 30 day period. It could have been pulled a 100 within the first 15 days and would not count against you but 1 time.
By Blue October, February 14, 2010 @ 1:44 pm
how did she lower your score?
in any case, landlords will look to see if you have had any court actions such as evictions, bankruptcy etc.
they will look at your credit in general, but are most concerned with if you have paid your rent in the past.
do you have any good references from previous landlords?
good luck