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I've been e-mailing back and forth with a very unhelpful apartment allocations officer at Penn South. What I want to know is, is there a minimum credit score to be offered an apartment? Even if you have already secured a mortgage elsewhere, e.g. not through the Penn South Credit Union.
I was told that they could not tell me this information. Um, huh? If they're doing a credit check, then there obviously is a minimum score or something they're looking for. I would hate to go through the process and be disqualified because of it.
I've been e-mailing back and forth with a very unhelpful apartment allocations officer at Penn South. What I want to know is, is there a minimum credit score to be offered an apartment? Even if you have already secured a mortgage elsewhere, e.g. not through the Penn South Credit Union.
I was told that they could not tell me this information. Um, huh? If they're doing a credit check, then there obviously is a minimum score or something they're looking for. I would hate to go through the process and be disqualified because of it.
You could try calling the Penn South credit union and see if they have a minimum score they look for, although officially the credit union is separate from Penn South.
Also, if you're not going off hold until next winter, why not use the time to try to raise your credit rating if it's subpar?
That's my whole entire point! If there is a minimum credit "floor," I want to know so I can work on it. My score is a 690 which is obviously not the best! But if the floor is, say, 580, I know I can go off hold much sooner.
Last edited by dontworryboutathing; 01-05-2024 at 12:31 PM..
They specifically just told me on the phone that there is but they "couldn't disclose it."
Bizarre.
No one ever asked me about a credit score and none of my neighbors on the internal PS groups ever mentioned being asked about it. The only time it came up was with my mortgage officer.
Yes, but before you get in there is a credit check, no? That is what I was referring to. I was told that people can and are denied depending on credit score when the complex does a check.
Let’s think this through. Will you qualify for a mortgage through an entity other than the Penn South Credit Union? Or will you be paying cash for the apartment? Either way, we can assume your credit rating is good enough.
Do you have any serious delinquencies or judgments against you? Do you have reason to believe your credit rating is deficient and you won’t be able to pull it up in one year’s time, when you plan on coming off hold?
In all my years following Penn South, I have never heard of anyone who was denied because of their credit rating.
For those who've been called by Penn South for the first time, what log number were you?
Because I'm wondering if you have to be log 1 or being between 1 to 10 in order to be called.
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If there is a minimum credit "floor," I want to know so I can work on it. My score is a 690 which is obviously not the best! But if the floor is, say, 580, I know I can go off hold much sooner.
