Your Trusted San Antonio Apartment Experts for Overcoming Credit Challenges
Worried about credit issues holding you back from getting approved for a second chance apartment in San Antonio? No worries, we got you! As experts that focus on helping people instead of turning them away our job as experienced San Antonio apartment locators is to provide our honest thoughts and opinions about where we can go to get you approved for an apartment if you are facing credit issues. Regardless of your credit history we can help with the following 25 issues:
- Low Credit Scores
Many traditional apartment complexes require credit scores of 600 to 700 or higher, making it difficult for those with lower scores to qualify. We however have apartment communities that will work with scores 500 to 600 and EVEN LOWER depending on other factors like income and rental history. These properties may offer alternatives like higher deposits, security fees (typically 1 times the monthly rent) or a deposit alterntive with a surety bond if you don’t have the larger 1 month security amount available upon move-in. - Bankruptcies
Recent or past Chapter 7 and Chapter 13 bankruptcies can make renting challenging, but apartment locators like us can find properties that are willing to take a second chance for those experienceing bankruptcy. You’ll still need to meet the income/credit requirements to get approved but they the might request an opportunity fee instead or a security fee rather than a security deposit. You’d receive the security deposit back at the end of the lease. These type of flexibile options allows individuals to secure housing despite their bankruptcy that shows on their credit history. - Evictions
For tenants with evictions, we help individuals to focus on improving other aspects of their application—such as offering a larger security deposit or providing proof of consistent income and even being open to paying an additional opportunity fee or doing a deposit alternative as notated above (for those with low credit and bankruptcy) —can make them more appealing to an apartment community’s property manager. We’ll need to talk specifics about whether it’s recent and less than 2 years old, between 2-5 years old or 5-7 years old. If you have property debt associated with that please also make sure to let us know – it’s important! - Broken Leases
Broken leases or unpaid rent at previous properties can be a red flag which typically results in a denial which is why you might be reading this BUT some apartments are willing to work with tenants through apartment locators who specialize in these situations. While broken leases or unpaid rent can significantly impact a tenant’s ability to secure new housing, we can help you review your credit report to determine what’s showing on there and how that’s going to impact your approval in our network of San Antonio apartment communities. - Judgments
Credit issues due to judgments, such as owing money from a lawsuit or unpaid debts, can affect housing options. We can review your options and discuss a plan to move forward; particularly if the debts are old or the tenant can demonstrate consistent income. Additionally, some landlords may be open to negotiating terms, such as requiring a higher security deposit or offering a month-to-month lease to ease concerns about potential rental pool risk. - Foreclosures
Individuals who have experienced a foreclosure may struggle with securing new housing. While we might not be able to get you approved for a new home loan, we should be able to review and provide options that suite your short term real estate goals with a lease that’s 12 months or longer. - Delinquent Accounts
Accounts in collections (such as medical bills, short term loans, unsecured credit cards, utilities, or cell phone bills) and even upaid parking tickets can affect credit scores. We can say however that if you, the tenant, can demonstrate consistent income equal to 2-3x the monthly rent and provide a solid rental history, some properties might focus more on the tenant’s ability to pay rent moving forward rather than past collection accounts, making it easier to get approved. - Student Loan Defaults
Defaults on student loans may impact credit reports, but in general, this is a non-issue for most communities. It’s really to bad that President Biden wasn’t able to forgive a lot of student’s school debt during his tenure:( - Tax Liens
Unpaid tax liens can show up on credit reports, but some apartment communities may still work with individuals who have such issues because hey – everyone needs a place to live and if you have the income/credit score – all the better! While tax liens might sound scary, they shouldn’t impact your ability to qualify for some of our preferred apartment communities for San Antonio renters we talk to. - Limited or No Credit History
For those who lack a substantial credit history, we can find properties that are open to applicants with minimal or no credit history. You might even be looking for apartment in San Antonio with no credit checks because you are worried about what’s on there! Some examples of situations where we’ve help people include assisting those individuals who are new to the workforce, recent college graduates, or those who have recently immigrated and may not have established credit in the U.S. – if you have a work permit and SSN that’s all you need to get started and employment offer letter. Some properties may even accept alternative documentation, such as 3-4 months of bank statements to establish a tenant’s financial responsibility. - High Debt-to-Income Ratio
Even with a reasonable credit score, you might think that having too much debt compared to income can result in an apartment rental denial. The fact is most communities simply require that you meet their credit requirements and income requirements which is typically 3x the monthly rent but as low as 1x if you talk to us! If you applied at a community with a high-debt to income ratio and were denied we need to talk since we have access to places that will approve you! - Past Due Child Support
Delinquent child support payments may appear on credit reports but more importantly apartment communities that you apply to which are income-restricted may require you to prove that you do not have any child support payments or obligations as they can indeed be an important factor as to whether or not you are approved. - Multiple Late Payments
A history of late payments on credit cards, auto loans, or other debt can harm credit. Chalk all those late payments up and it’s easy to see how a property manager might think you’re going to be late on your rent payments. Let’s discuss your credit score, late payments and anything else that you think might be holding you back from getting approved for a second chance apartment in San Antonio. - Credit Fraud or Identity Theft Issues
If a client’s credit has been impacted by identity theft or fraudulent activity we are going to have a difficult time getting you approved if there is active property rental debt – even if you have been provided a letter from a credit counseling agency stating that you are disputing the amounts due which are showing on your credit report. - Old Collections or Charge-offs
If a client has old unpaid accounts that have been charged off by creditors you don’t need to worry. We see this all the time and can help you navigate the best housing options available for you based on your preferred budget, location and amenity list. - Medical Debt
Many individuals face credit issues due to unpaid medical bills but you need not worry. Most apartment communities that we work with in our network of second chance apartments look past these issues. They are quite honestly more concerned about your credit score and income to get you approved and into an apartment. - Repossessions
Car repossessions often negatively affect credit scores and we’ve seen how these can impact your credit score but it doesn’t mean we can’t provide access and details about apartment communities where this won’t be a big deal. Apartment locators like us know of properties that are lenient towards such issues. - Public Records
Some credit issues arise from public records like civil judgments or unpaid fines, but apartment locators can identify properties that don’t focus on these types of entries because we take the time to review the civil judgement, the date it was filed, is showing and for how much it is listed. Whether we decide to move forward with a community that will look past it, require that it be on a payment plan or completely paid off is up to you – let’s talk about it with a free consultation to review the best options. - Closed Accounts with Balances
Credit accounts that have been closed but still carry a balance can impact credit and we’ve seen our fair share of credit reports that have the big “C” for “closed” or “charged off”. Regardless of the balance, amount or details, we can still put together some options that will work for you. - Short Sales
A short sale (selling a home for less than the mortgage balance) may negatively affect credit but this won’t impact your ability to get approved for an apartment when you choose to work with us. - Inquiries
A high number of hard inquiries on a credit report can lower a credit score and raise concerns with landlords but this is generally a non-issue so you don’t have to worry about it! We’ve never heard of or seen this become an issue – ever! - Cosigner Issues
If a cosigner has poor credit or issues related to past leasing agreements, apartment locators can help find properties that are willing to bypass the need for a cosigner altogether with an additional 1 month security deposit. Sounds weird right? We’ll not to worry, if you don’t meet the income or credit requiements we can still help you! - Self-Employment or Unconventional Income
Sometimes, individuals with unconventional income sources (like freelancers or gig workers) face credit-related challenges. We can help you document your income with a notary or you can also provide copies of your bank statments showing the deposits to be caculatored in for your income ratio. If you’ve recently been hired and have an employment offer letter dated within 30 days – that’ll work too! - Property Debt (active or inactive)
If a portion of income is being garnished (e.g., for debts, child support, etc.), it can complicate the rental process. Even if it’s not being garnished this is often the biggest RED FLAG for apartment communities which is why you might have found our services after being denied for an apartment in San Antonio because you have a debt collection from a previous apartment community showing up on your credit history. If that’s the case give us a call or request your free list of apartments using our locating services. We’ll should still be able to help you find a place and get approved! - Misunderstandings with Previous Landlords
Sometimes misunderstandings with prior landlords show up as negative marks on rental history reports which might make you want to avoid communities that will want to verify you rental history and ask for a ledge showing all your ontime or late payments you’ve made to the community. Connect with us for help in navigating the best options available for you!
The San Antoino Aartment Locators Group can help advocate for clients and provide a list of apartments based on your unique situation. If you require immediate assistance please contact us at 210-984-1222