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carol
Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California
29555 Magic Points
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Subject: Credit scores affect search for apartments
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Thu Jan 14, 2010 9:01 am
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Hi All
I found this post in my inbox. I have now put it here for everyone to be able to give their suggestions.
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| my boyfriend and i are trying to find an apartment---actually low income ones. well they do credit checks and we dont have the best of credit. mine is 552 and his is 547. i only have a credit card on mine and JBR. he has alot on his. what do they look for when they do credit checks. i really want to get an apartment but im worried with my credit. im going to be head of household though so wouldnt mine matter more? |
Hi timte0904
Ideally with your scores, you are likely to have some difficulty in finding an apartment. Are you looking out for rent or are you looking forward to buying it? Well, lenders usually like to approve people with credit scores greater than 650 in such cases. The more your score the lesser your chances to default on payments and vice versa. If you are lucky to find an apartment good, otherwise, you may work on your credit score, push it up and then again try looking out for an apartment.
If there is anything more that you may want to ask, feel free to do so.
_________________
Keep in touch
Carol |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889
1356 Magic Points
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Subject: credit
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Thu Jan 14, 2010 10:49 am
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| Hi....just wanted to add my '2 cents'. I live in low-income housing, myself. They (Housing Authority) usually check your credit to see if you have any outstanding utility bills (elec, gas,etc). They don't really look at your credit score. ALSO..they check to see if you owe any OTHER Lanlord (s) past rent..that kind of thing. Hope this helps a bit. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Thu Jan 14, 2010 2:49 pm
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| I will agree with SD here. My brother lives in low income and he has got to have the worst credit ever. Lots of law trouble and tons of unpaid loans and credit cards. He was never denied. This is what I seen with my own eyes when he applied. I have never lived in low income myself but know this is true. I would think other unpaid landlords would hurt your chances. If any are there I would try to get them resolved. |
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Aaron
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Subject: CREDIT SCORE
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Tue Jan 26, 2010 9:52 am
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Hi timte,
With your score you are going to face problem in finding an apartment. However with this score of yours if you get an apartment, then it's well and good, otherwise try to improve your score.
The first thing you can do to improve your score is to check your credit report thoroughly and find out if there are any negative listings. If there are, try to solve those one by one. This will help in improving your credit score a lot. Then you can search for an apartment.
Hope this will help you.
Regards,
Aaron |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889
1356 Magic Points
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Subject: credit
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Tue Jan 26, 2010 3:30 pm
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| Yep...FIREYONE. A friend of mine filled out an application to live in the apt complex I live in now (low-income). She does have great credit!! However.....she owes money to a Landlord, from out of state. So...her application was denied for this reason. She was told when she clears up this matter, she can re-apply again. |
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Aaron
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Subject: credit
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Wed Jan 27, 2010 12:16 pm
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Hi,
As your friend owes money and as a result was denied to hire a low income complex, I think she should ASAP try to pay off the debt. As early as she pays off the debt, she can hire the apartment.
Regards. |
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