Good Credit and Rental History
At Sky's The Limit Realty, we understand the importance of a solid credit history and positive rental record. Let's explore why these factors are crucial in securing your dream rental home.
The Importance of Good Credit
Having a good credit score (FICO score) will go a long way in proving your credibility to landlords. A score in the high 600's or above will show most landlords that you pay your credit bills on time, and you have not bitten off more than you can chew. Good credit is the starting point.
Navigating Rental Challenges
If you have a good credit score, verifiable income of 3 times the rent, and good rental history: you will be in the driver's seat and able to control your own destiny much easier. Your biggest challenges may only be competing with other applications for the most desirable properties.
Beyond Renting: Homeownership Opportunities
If you have great credit, great rental history, great verifiable income, and a small pile of cash set aside, you may be closer to buying than you think. In fact, you may be able to buy now! Talk to us more about that, and we can get you in touch with a lender who can evaluate your situation. If you are qualified to buy now, then we will be happy to represent you and help you make that home purchase. Maybe it's time to start building your own home equity wealth!
Considering All Options?
If you know you are looking to rent now: perfect, let's go find you a great property to move into. However, buying may be easier than you think. You may only need 3.5% - 5% of the home purchase price saved up: this, of course depends on many factors such as type of property and loan, but if you have some cash like this set aside, it is worth having a conversation with one of our preferred lenders.