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Updated about 6 years ago,

User Stats

73
Posts
39
Votes
Nicholas Bolcon
  • Coventry, RI
39
Votes |
73
Posts

Minimum Credit Scores

Nicholas Bolcon
  • Coventry, RI
Posted

Hello everyone,

 I am set to close on my first rental property on Monday (fingers crossed it all goes well but it is conventional financing and not a short sale or foreclosure so there shouldn't be any surprises).  The house is a side by side duplex in West Warwick, RI. I figured I would get a head start on figuring out tenant screening and that is where I am in need of advice.

What do people (especially in RI, MA, and CT) set as minimum credit score for applicants?  I understand that there are varying opinions on if minimum scores should be set, and I also know that just the credit score is hardly the whole picture.  But I am looking to see if anyone has good/bad experience with setting a minimum score in this area.  Will 650 be too high and leave me with too few applicants?  Thanks for all the knowledge everyone brings together on here.

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