Posted on: 29th Aug, 2013 01:58 am
I have a bad credit. But I have arranged for a co-signer who has a good credit. Will I be able to get approved for a rental apartment?
Your approval will depend upon how strong your co-signer is. Moreover, it will be completely the discretion of the landlord whether or not he will consider a co-signer.
If your co-signer has good credit it will definitely help you stand a better chance at getting qualified. Without some sort of good credit backing, many lenders are wary of letting you get a large loan because they cannot be sure you will actually pay back their money. The same goes for landlords renting apartments. It is important for you and the co-signer to know what you are getting into with the apartment lease. I would suggest checking out this article for some great tips about co-signing a loan http://www.lostcard.com/co-signing-things-you-should-know-before-you-co-sign-a-loan/.
Make sure the cosigner's credit score is high for you to qualify for a rental apartment.