apartment question part 3?
Ok, so I emailed the apartment complex about my credit score …so here is what they emailed me …by the way my credit score is avg of 581 -600 on my fico…what do you think my odds are of getting a smal ldeposit ? this is their response " credit score of 600, which
you have, is generally considered an average credit score. You can
expect to be approved under either a Minimal Deposit or a Half Months
deposit if you have good credit history. When credit is ran we only go
back up to 3 years to see established credit history. With you being a
student with a credit card and a car, you should have plenty of
established credit to qualify on your own. However, when we run our
credit checks we don’t get back a score, we just get back a grade
stating what credit level tier you will qualify under. The tiers range
from Reject, Full Deposit, Half Deposit, and Minimal Deposit. If
everything goes as planned you can expect to qualify under a Half
Months deposit or a Minimal d
Additional Details
20 hours ago
sorry a little bit about me…I’m 21 a student ..don’t have to pay back loans till i graduate, one full time job (bank), one part time (security)..i make about 1840 a month…one month late on a car loan payment and I owe still on the credit card…nothing else
19 hours ago
little bit more about me lol…my monthly income is 1840…I have a car payment of 328 and a cc payment of 65 a month that’s it …oh and the rent will be 449 a month!
18 hours ago
one more thing sorry people but the more detail the better your answer will be…I forgot that they want gross so that before tax…my monthly income will avg about 2100 a month
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December 14th, 2010 at 4:19 am
Sounds to me like you’re looking at either Half or Minimal. They’re not being too strict on the credit requirements. Above 700 is considered excellent, but what I see the most of in the car business is 540′s and lower. Sounds like you have decent credit history, just not a whole lot of it. Finance looks at the length as well. Having the car and the credit card will help you out in the long run. I think you’re going to be okay on this apartment. I wouldn’t expect for them to hit you with anything major.
BTW….if this is your first apartment and you’re not familiar with landlords and the stuff they can pull. Get everything spelled out in writing. Heresay means nothing in the end. Also, do a thorough move-in inspection complete with pictures. Keep a list and copies of the pics for yourself, and give the others to your landlord. You don’t want to get hit at the end for any damage that may currently exist. Check lights, windows, doors, plumbing, appliances….go through every nook and cranny. That’s saved my behind more times than I can remember.
December 14th, 2010 at 4:19 am
well they pretty much told you that your deposit will be 230 orless. in my book that nothing. my rent is 1000 andi had to put down security, first,last,andpet. that was 4000 down just to movein…. i thinkyours is small already