Reply
Established Contributor
Lasardo
Posts: 738
Registered: ‎04-26-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

I was just  in the process of renting at a 606 credit score (now 704) I was told with a low credit score I could get into the apartment by paying deposits..over 600 the deposits are waived. 

You will be more than ok. 

I decided to not rent and buy, I will save $400 a month in rent..may want to consider..you could rent it out to her! 

Good luck! 

 

CS 728- 01/13 from 554-12/11
Goal: 800
Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

Thanks you, and we basically want to rent for at least 2 years then buy (after being married).

Regular Contributor
xwill04
Posts: 162
Registered: ‎11-13-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

from my experience with my (crappy) scores they always asked for a higher deposit I usually had to put 1 months rent down as a deposit. I went to one apartment complex and they told me they take both applicants historys and combine and divide it by two.. and take that average as if u were one person. Which IMO she should be able to bring u both up high enough for standard deposits or whatver special they have.

 

every apartment situation is different though but those are my experiences renting.

 

+1 on buying. I live in the Bay Area, CA and here you can own a condo for at least $500 less than you can rent. All the foreclosed homes caused people to move into apartments and drive up the prices. As soon as I get my scores up above 680 and get a promotion at work im going to be applying for my first mortgage. best way to go! 

 

im 24 btw if i can be a home owner by 25 i think that would be an accomplishment!!

 

GOOD LUCK!!



Starting Score: Exp:513 | TU:541 | EQ:517 - 11/13/2012
Current Score: Exp:623 | TU FICO:639 | EQ FICO:743 - 01/24/2012
Wallet: Applied Bank $200, OpenSkyCC $300, 1st Tech CU Secured $2k, Discover IT $1.5k, CITI AA $2.8k, USAA AMEX $7.5k
Take the FICO Fitness Challenge
New Contributor
DonMzBhavin
Posts: 69
Registered: ‎10-13-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

+1


Starting Score: 467
Current Score: 661
Goal Score: 795


Take the FICO Fitness Challenge

Post BK Wallet: Target VISA $10,000 (AU) | NFCU Credit Card $5,000| Walmart $1100| Cap One Platinum $3000 | Amazon $1150 | Discover It Card $500 | Cap One Secured $500 | PayPal Smart Connect $500 | Lane Bryant $1130| Dressbarn $750 |NY & Company $250| Victoria's Secret $250 | Target Store Charge $200 |Capital One Auto Finance
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

Don't see any reason to get denied, or even have a high security deposit.  Unless you stuck a previous landlord with unpaid repairs, or unfullfilled lease, your scores don't scream high risk.  I've talked to a few people before that rent out properties, and they look more for derogs that might indicate risk rather than score itself.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

I've got 4 derogs which were PIF in the year 09. They're due to fall off between December 2012-February 2013. Thanks to everyone for giving me their feedback. It's most appreciated.

Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

Update:

 

The realtor stated we'd have to come back in several months, as the management company refuses to work with us. All because of my scores not being in the 700's. I don't know what to do, and I feel so embarrassed about the situation. 

Moderator
Shogun
Posts: 12,884
Registered: ‎04-15-2011

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

Wow.. Must be an exclusive place, otherwise, that's just ridiculous.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

What??? That's ridiculous. Sorry that happened, I can't believe a leasing company can be so shortsighted

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Valued Contributor
Epcot
Posts: 2,777
Registered: ‎10-10-2012

Re: Very Nervous - IN THE PROCESS OF RENTING (Needs Advice)

That's surprising! Very sorry to hear. I'm sure there are other, friendlier places you could look!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+