Can you get an apartment with a credit score of 500?
In short, yes! A credit score of 500 is low, but it’s not insurmountable. It would be best if you planned some extra time for your apartment hunt with scores this low, but you can still rent an apartment. It will take some extra planning, though.
Where can I live in NYC with bad credit?
How to Score an NYC Rental Despite Bad Credit
- Know your credit score.
- Be honest about your credit history.
- Cash is still king.
- Get a guarantor to co-sign the lease.
- Find small, independent landlords rather than big companies.
- Get a letter from your previous landlord, plus other references.
Which FICO score do apartments use?
Most landlords use FICO credit scores to determine if an applicant qualifies for an apartment. The typical categories for those scores are: Exceptional: 800 to 850.
Will I pass a credit check for renting?
There is no minimum Credit Score that you need to rent a property – in fact, you shouldn’t really worry about a number at all. Landlords won’t use credit scoring in the same way that a lender would and won’t get anything like the score that you are likely to see if you check yourself online.
How do I get approved for an apartment in NYC?
The following are a few general guidelines that apply in most cases:
- You will need to show an income of at least 40-50 times the monthly rent.
- You must show a secure and stable employment history.
- You must have good credit history. (
- You must have a social security number.
- You must show a good rental history.
Can you rent with a CCJ?
If you’ve had a CCJ previously, but more than six years have passed since it was issued, it should no longer appear on your Credit Report. As such, a landlord won’t be able to decline your application on that basis.