FICO scores and getting an apartment

[Anonymous]

I don't think you have anything to worry about.  Most apartment communities are very lax on their standards.  Thats not to say they let everyone in but they just want to make sure you pay you obligations.  I would not worry about credit score that much. IMOP.

[Anonymous]

I'm in a similar situation and new to these forums so I thought I'd ask the wise people here -

I have to move because my apartment complex is changing their rules about dogs - they aren't taking them anymore and aren't renewing the leases for folks like me with a dog.

I'm panicking because I just learned that my FICO scores are a lot lower than I thought they would be. I have a handful of "30 day late" dings (mostly on student loans, one auto loan - car was paid off teo years ago -  and one time on a credit card), one 90 day on a student loan from three years ago, but no collections, bankruptcies, nothing like that.

My primary problem is high credit card debt due to a period of unemployment, three years of working a job with terrible pay and then just being stupid and not paying them down. I make the payments on time every month, and never really thought about them before that and planned to start paying them down when I get a significant pay increase in July, but this move has to happen before then.

So here's my situation - scores are TU = 635, Experian=613 (!!), and I checked Equifax at the beginning of March and it was 661 then. I can't imagine that a whole lot would have knocked it down between then and now since I haven't had any late payments or had an inquiries or anything like that.

I have excellent employment history (almost 5 years with my current employer), I make more than the standard 3x monthly rent amount, and my rental history is excellent (7 years in my current apartment, never late on rent, no complaints). I just have those darn low scores and my high credit card debt.

Does anyone think this will cause trouble when I try to find a new apartment? I am willing to pay a larger deposit and I have a family member who has volunteered to be a co-signer if necessary - do you think that would help?

I'm just clueless in this area since it has been so long since I have looked for an apartment and I'm in shock over my scores. I'm worried sick about this and any input anyone can give would be greatly appreciated!

Message Edited by Basia77 on 04-13-2008 08:46 PM

Message Edited by Basia77 on 04-13-2008 08:47 PM

[Anonymous]

Basia77, I wouldn't worry about it. Back in November I moved into a new apartment. They said they would pull a credit report and depending on my credit the deposit could be anywhere from $150 to two months rent. I was really worried because my scores at the time were around 570, with two credit cards showing as charged off, and two utility bills showing as collections. But I was accepted with only the $150 deposit. This was a large company that runs apartment complexes all over the country.

[Anonymous]

Thanks, TeeVeeDude! That does give me some relief. I am prepared to pay a higher deposit or get a co-signer, I just don't want to be rejected entirely.

I've just been super-worried because I'm still reeling over my scores. I thought they wouldn't be that bad since I'm really good about paying everything on time and I've never had anything charged off and I've never had anything go to collections. I didn't realize that my maxed out credit cards would hurt me that badly. But I've learned a lot since finding this site and I'm working on repairing the damage.