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Old 12-06-2016, 06:31 PM
 
16 posts, read 18,924 times
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I have a well-paid job offer, but my credit is shyte from student loans.

My rich aunt with her 800 FICO said she will co-sign for me. Do you think the combo of employment + high credit co-signer will enable me to get any deposits waived?
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Old 12-06-2016, 06:33 PM
 
Location: Aliante
3,475 posts, read 3,275,915 times
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No.

Go for a place with either low deposits or doesn't require deposits.
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Old 12-06-2016, 06:34 PM
 
16 posts, read 18,924 times
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So there's no advantage to having a co-signer then?

If you could extrapolate your point a bit, I'd appreciate it.
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Old 12-06-2016, 06:53 PM
 
Location: Aliante
3,475 posts, read 3,275,915 times
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It's a job offer. You'd need some time working there first with paycheck stubs to show stability. Most places won't take someone without a deposit and a co-signer if you have bad credit and a brand new job. Even the ones that take a low deposit will still run a credit check and then need a co-signer + deposit.

How did you get bad credit on student loans?
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Old 12-06-2016, 07:18 PM
 
Location: Aliante
3,475 posts, read 3,275,915 times
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I'm just wondering what the situation is. If it's federally funded they don't report you if you make late payments unless you've gone into deferment without working something out with them. You can usually work something out like six months up to three years forbearance/deferment based on economic hardship, or they put you on the income based repayment plan where you pay next to $0 if you have part time work or a low income job.

The situation might not be as bad as you think. Have you checked your credit score on CreditKarma.com to be sure?

Also do you have prior rental history? Was it good? That may help too.
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Old 12-06-2016, 07:49 PM
 
16 posts, read 18,924 times
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How likely is it to find a decent apartment without a deposit (or at least a low one) requirement?
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Old 12-06-2016, 08:00 PM
 
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Don't hang a cosign on anyone unless you absolutely have to. Consider your current situation. You effected only you but if by chance something goes wrong it's your aunt too.
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Old 12-06-2016, 08:06 PM
 
Location: Lone Mountain Las Vegas NV
18,058 posts, read 10,335,750 times
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Don't get rich aunt to cosign. Get her to loan you a couple of months rent. That cures most credit problems especially for a younger kid.
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Old 12-06-2016, 10:35 PM
 
Location: Aliante
3,475 posts, read 3,275,915 times
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Quote:
Originally Posted by MAGA Dude View Post
How likely is it to find a decent apartment without a deposit (or at least a low one) requirement?
You'll have to shop around. There's over 600 options in Las Vegas for apartments so fairly likely, especially in the summer with high turnover rates. Our place is descent and they only charge $200 deposit which they waive if you pass the credit check. Which we did since our credit is like your Aunt's.

Get your student loans sorted out. You can easily rectify that with them and quickly improve your credit. They work with all kinds of situations.
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