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Updated about 6 years ago on . Most recent reply

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Cerelia Bennett
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Tenants with high student loan debt

Cerelia Bennett
Posted

Hello,


I have a couple who just completed a credit check for my unit and the credit score for one person is 702 and for the other is 688. The combined income is more than three times the required amount needed for the rent ($110k). I did notice the husband has an education loan debt of $113k. The monthly payment for this loan is $687. The husband has one negative item on his credit which was resolved and gave him the current score of 688. I thought that his student debt seemed very high and wondered if this should be a red flag or not. The wife has a student debt of $27k. 

Your thoughts and opinions would be greatly appreciated!

Most Popular Reply

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Anthony Wick
  • Rental Property Investor
  • Ankeny, IA
3,901
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Anthony Wick
  • Rental Property Investor
  • Ankeny, IA
Replied

Not a concern at all. I've seen people with less income and a $600 car payment, plus $20k credit card debt. Read the news. $110k in student loan debt seems to be getting par for the course. 

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