Me and my fiancé are trying to move to a smaller place in order to save up for our wedding but weve been denied several times because of our credit, which is pretty bad. We have great jobs make 5x the rent at these places and we have great rental history any ideas on what we can do
2007-02-13 09:22:40 · 5 answers · asked by Kevin C 2 in Business & Finance ➔ Renting & Real Estate
Get letters from your prior landlords stating that you are good tenants. If that doesn't help, call your prior landlords and ask if any of them have something you could rent in your price range. If you have been good tenants to them before, they may want to rent to you again. You could also try to prepare a letter of explanation and attach it to your rental application. That would be very honest and open about your credit history. In addition, prepare a budget and attach a copy of it to your application. This will show that you are able to pay the rent and also will show how you plan to work toward fixing your credit problems. And what might work very well is to deliver the rental application in person. Talk to the landlord. Explain your credit history in person. Let him/her get to know you a little. Good luck.
2007-02-13 09:30:05 · answer #1 · answered by sandy 3 · 0⤊ 0⤋
Many landlords will deny renting to you because of your credit. There are two options I would suggest: first, since you have sufficient income, consider buying a home instead of renting. If you can put 20% down on a condo, town home or house, you will likely qualify for a 80% first mortgage, or if you don't have the 20%, you may still qualify for mortgage financing, even if the interest rate is a bit higher. In that case, I suggest you pay the higher interest in order to get into an equity position and make regular mortgage payments for 2 years to improve your credit score. At the 2 year mark (or possibly earlier) refinance the home for a more reasonable interest rate and lower payment. Option 2 is to seek a reputable credit repair agency. These companies can negotiate lower or no interest payback on your creditor debt. At the end of re-payment, you will have re-established good credit and you can make future plans.
2007-02-13 09:31:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In some states it's illegal to live with someone you're not married to or who is not family, i.e. like in your situation. Usually the rental complexes require each person to have a bath and each to have their own bedroom, i.e. the cost would be higher.
I can understand where if you both have bad credit and are planning to wed you are trying to improve your situation...but the way to improve it is to get a second or third job (each of you)...and stay where you are...and with that money clear up your credit problems so you can start out with a clear slate.
2007-02-13 09:43:19 · answer #3 · answered by sophieb 7 · 0⤊ 0⤋
There are places that will accept you but make you pay a larger deposit if you have bad credit. Before even applying to get a new place, call them first and ask them if they do that. Try these sites:
apartmentguide.com
apartments.com
2007-02-13 09:30:54 · answer #4 · answered by Liberal City 6 · 0⤊ 0⤋
Go back to your old landlords and see if they got any apts for rent and don,t give up good luck
2007-02-13 09:33:35 · answer #5 · answered by pattibcacl 6 · 0⤊ 0⤋