Do you have to have a cosigner dor your first aparment??

Question

Hi, Im turning 18 soon, and I was wondering if I have to get someone to cosign for an apartment.

Answer 1

That depends on whether you have any credit rating and a job. If you don't have one or the other, yes, they will probably ask for a co-signer. It is up to the apartment owners.

Answer 2

At 18 you will most likely need a cosigner. However, if you (a) work for 3-6 months; (b) keep your pay stubs; (c) put some savings in the bank; and (d) can prove that you are able to make the monthly payments plus furnish the security deposit for the apartment owner will most likely not require a cosigner.

Sounds to me like you don't want to ask your parents to cosign so take a little time and do the things mentioned above and you should be able to rent an apartment without a cosigner.

Answer 3

Generally if you are under 21 you may need to do just that depending on the state in which you live. Also, if you have no steady job (if you are a student), credit history, etc., then you will need a cosigner.

Answer 4

Depends on what state you live in, and what apartment complex you apply to, some look for credit, some don't. You just have to ask the places you are trying to live at.

Answer 5

it's not mandatory, but likely based on your income- if your rent is a higher percentage of your income, they'd likely want a cosigner. Otherwise they'd worry about not being able to collect rent.

Answer 6

If you have a solid income or can put down a huge security deposit you may be ok. But your lack of credit history will be an obstacle for you.

Most likely you will find something.

Answer 7

To buy or rent...???

Either one...
You're most likely going to need a co-signer because you probably don't have any credit.

Me & my boyfriend are under 21 and someone co-signed for us to get our apartment... if you have more questions, let me know...