How much debt would prevent you from getting an apartment?
Casey asked:
I have good credit and so does my fiance. We just have a lot of credit. I was wondering how much debt is ok and how much would disqualify you from getting an apartment.
I have good credit and so does my fiance. We just have a lot of credit. I was wondering how much debt is ok and how much would disqualify you from getting an apartment.
Tags: Apartment, Fiance, Good Credit
December 22nd, 2009 at 6:55 am
This would only be a factor if you were getting a mortgage to buy a house. If you have a good credit and meet their income requirements then having a large amount of debt should not affect your ability to rent.
December 25th, 2009 at 6:28 pm
It’s hard to say, as this is to the discretion of the landlord. They aren’t regulated by a set of policies as a state regulated lending facility would be like a bank or mortgage broker. if you show good credit, good history and ability to make payments on time, then there shouldn’t be too much problem.
I would definitely suggest, however, that you learn a few tips on how to manage money and budgeting so that you can get a handle on the credit and improve your credit score. Just imagine paying down some of those pesky cards and banking a few thousand for an emergency fund and a down payment on a house.
I hope the link below will help answer your question in more detail, and for more tips, or our free ebook, check out links 2 and 3.