Yes, you can rent an apartment with bad credit.
If you’re able to find an accommodating landlord and willing to jump through some hoops, you’ll be able to get an apartment, even if your credit is bad.
Can I get an apartment with a 500 credit score?
FHA mortgages are available to borrowers with low credit scores down to 500 with a 10% downpayment. If you a 580 credit score you could qualify for an FHA loan with just a 3.5% down payment. Having good scores will make the process of renting simpler. A good credit score is considered to be 700 or higher.
What kind of credit score do you need to rent an apartment?
Most individuals or companies renting an apartment want credit scores from applicants to be 620 or higher. People with credit scores lower than 620 may indicate they are a high risk renter.
How can I get a apartment with bad rental history?
Part 2 Renting with a Bad Rental History
- Include a cover letter with your application.
- Include references.
- Find a co-signer.
- Offer to pay in advance or a larger security deposit.
- Offer to pay more in rent.
- Provide proof of employment.
- Suggest using direct payments.
- Find a roommate.
How can I convince my landlord to let me rent with bad credit?
If your score is weak, here are some steps you can take to convince landlords that you’re still a good risk.
- Get a Cosigner.
- Check Your Credit Reports.
- Be Honest.
- Point to Solid Income.
- Pay a Little More.
- Offer a Larger Security Deposit.
- Start Building Credit.