Top 5 Qualifications for Approval to Lease a Home
Qualification for approval of a lease agreement, once your application has been approved, is best determined on the specifications of the individual owner/landlord. no two are the same. Generally speaking, we are looking at the top 5.
Credit scores are important, you will need 500 or above.
Income should be 3 times the monthly rental amount.
No felony convictions less than 10 years old.
Any evictions or foreclosures may not be acceptable.
Bankruptcies may or may not need to be discharged, depending on the Landlord.
Congratulations! You are approved and ready to move into your new home. Stay in close contact with your agent for future home purchase or a lease option.
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