can get an apartment with a credit score of 580. I also have some savings like 35k would that be enough?

Question

does providing a bank statment do the trick or there are other qualifications. It's going to be my first apartment and I am getting a job soon.

Answer 1

Doubt you will have to worry. You will pay a deposit, probably + or - $1000 and you will have 34k to put back in your savings. If some silly girl finds out you have that much, she will spend it away for in in less than three months. I would highly recommend you never tell anyone else how much money you have. People get jealous, and they will try to take it from you by any method necessary, guilt, personal investments to name a couple.

Answer 2

Let me think about this for a second.
You have a real low credit score. hmmmm
But you have 35k. in the bank. And no job to show you can pay for the apartment. OK.. Now let us look at some missing elements here. Like where did the 35k come from since you do not have a job? I bet the IRS would like to know too.
Well if you have bad credit even with cash it is going to be hard enough to get an apartment. Some will take about anyone with a pulse but i`m sure you would not want to live there.
If you start to pay your bills on time and keep them all current your credit score will go up. If you have filed a recent BK. This will also hinder your getting into an apartment. But without a Job. Well that is pretty hard to get into one. Clear credit score up. Get a job. Then go apartment hunting.

Answer 3

Your score is pretty low, but I’ll tell what happened to me and that might help.

I moved from Georgia to Washington State, and I do have good credit and I had about $12,000 in savings, but I did NOT have a job.

I think not having a job is worst than having a low credit score. However, I was still able to find at least 2 places that would accept me if I paid 6 months up front, and one place was okay with me just showing my bank statement, paying a $300 dollar deposit and doing a credit check. My score is around 780.

So, you might get by with just showing your account if not keep looking to see if you can find a place that will accept it.

Good Luck.

Answer 4

Not all landlords run credit checks, they must ask your permission and get you SSN before they will be able to run a credit check. If they do, mention to them that your credit history is poor (likely due to you age, I am making an assumption here). Tell them that you would be willing to increase the security deposit. If you don't have an pay stubs or similar documentation for your income that could become another sticky issue. If you have a job offer with the salary, that should be sufficient proof of income.

Basically, the landlord wants to be as sure as possible that you will be paying your bill on time. A larger deposit indicates greater financial stability, and broaching the subject early removes some of the surprise factor.

Answer 5

An apartment? Apartments aren't really that hard to come by.. It's best to have a job before you get an apartment, but really, it's not a big deal. They like to make sure you have a job to be able to pay the rent. Talk to them and ask what they look for. Sometimes you have to make so much money a year, but that isn't very many places (and it's really only the expensive apartments).

Answer 6

Are you planning on renting or buying? If you're renting, you should be ok, especially if you offer to pay 6 months up front.

If you're buying, you'd better get a job, first. Most lenders don't like to lend money to someone who doesn't have a job, let alone someone with a low credit score.

Good luck!

Answer 7

The last place I lived, the landlord liked me. I had crappy credit but he knew I'd pay on time and be a good tenant so he rented the place to me. It might have helped that I was in my 30s and had a job, whereas most of the other tenants in the apartment complex were college students.

Answer 8

They check your credit history and with your credit score they will usually ask for an extra months rent up front plus their normal deposits, etc.
I don't know many places that will rent to someone with no job.

Answer 9

Don't worry about it unless there is other applicants with better credit. landlords just need to fill the vacancy. They are losting money every day it's vacant. 580 is not good, but they are usally looking for public records (judgements from unlawful detainer fro example). They rather check with your last landlord.

Answer 10

It would be better to do a rent to own. That's because I don't like the idea of never seeing that money again. Rent money is money waisted to me. Now that the housing market is down, you may be able to get into a condo or even a home. You may be surprised. Never, ever, never, ever,never show anyone your bank statement!!!!! Good luck.