What Credit Score Is Needed To Rent An Apartment 2019?

What credit score is needed to rent an apartment 2018?

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.

What credit score does apartments use?

A FICO score ranges from 300 to 850. Generally speaking, anything over 740 is considered excellent, anything below 650 is considered fair. Technically, a score of 620 would be considered a fair score in the eyes of FICO.

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.

Is 650 a good credit score for renting an apartment?

You Can Still Get in an Apartment With This 650 Score

Most experts state that a score of 620 is a typical minimum for getting into a good apartment. Thankfully, your 650 rating is higher than that.