Updated almost 7 years ago on . Most recent reply
Applicant Credit score
Hi everyone! What credit score do you typically require for applicants?
TIA!
Most Popular Reply
As a landlord you have the opportunity to be smarter than the FICO-obsessed mortgage industry. I suggest you do so.
Gal got sick and missed several medical payments 2 years ago, FICO 573.
Idiot got a Lambo with $850/mo payments, missed one payment, and prior to that 4 years earlier missed a Vette payment, FICO 674.
Gal has a lower FICO than Idiot, but Gal is probably more likely to be a good tenant. But we both know which one I have to turn down as a lender...
Read the story in the credit report, not the FICO score.