If i have a credit score of 801/774, and I wanted to rent an apartment, could it make my payments lower? Or does it just make the possibility of getting the apartment higher?
Thanks =]
2006-12-01 05:58:26 · 11 answers · asked by toonlink 5 in Business & Finance ➔ Renting & Real Estate
buy a house, with a score like that, you will get an "A PAPER" loan, lowest rates, and payments, and would qualify for 100% financing, and all the bells and whistles, but go through a good broker, not a private bank(likeWAMU or WEBSTER< OR WACHIVIA< OR WHATEVER) just find a local broker
2006-12-01 07:43:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, this does not influence the rental price, as the price has already been set, Landlords have a rent roll and have to have a certain cash flow, so the price is already set, they will benefit from having a very good tenant, that's about it.
It is not like when buying a home, only if you were to buy a home, you are treated better as far as the interest rate goes, you'd get one of the lowest rates because of your high fico score, perhaps you should look into purchasing a property, even if you have to find someone help you qualify, if not you can go stated income to purchase it by yourself. There are many great options and opportunities, nowadays. Take care and good luck.
2006-12-01 14:10:10 · answer #2 · answered by You are loved 5 · 1⤊ 0⤋
774 - 801 is extremely good credit! WTG!
Unfortunately your rent will be the same - however if you go to buy a car or house you will absolutely qualify for a lower APR.
2006-12-01 14:00:27 · answer #3 · answered by Mike 3 · 1⤊ 0⤋
You're unlikely to get lower rent, but certainly more likely to get the apartment.
If you can convince the landlord that you are an extremely low risk, you might be able to negotiate a lower rental rate. But rent is also determined by his costs, including wear and tear on the place. If you also can maintain the property to a very high level, that could also be a benefit.
Just ask. Worst they can say is no.
2006-12-01 14:01:34 · answer #4 · answered by Anonymous · 1⤊ 1⤋
Apartments can not rent cheaper to another person because of a credit score.
Coach
2006-12-01 14:05:46 · answer #5 · answered by Thanks for the Yahoo Jacket 7 · 1⤊ 0⤋
if you are renting your score does not affect to your payment unless you are buying the apartment.
2006-12-01 14:07:15 · answer #6 · answered by alejandra 3 · 1⤊ 0⤋
It will not effect the rent per month, but it will save you a lot on deposits.
2006-12-01 16:37:19 · answer #7 · answered by Wyleeguy 3 · 0⤊ 0⤋
It only makes it more likely you'll get the apt. With acredit score like that why not buy?
2006-12-01 14:00:47 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It totally depends on the landlord. Some landlords don't care about your credit rating at all, just your rental history.
2006-12-01 14:00:18 · answer #9 · answered by Zebra4 5 · 1⤊ 1⤋
the only time it makes payments lower is on mortgage payment/interest rates...
2006-12-01 14:00:10 · answer #10 · answered by Anonymous · 0⤊ 0⤋