Did you miss student loan payments? Having loans and paying them on time help your credit score. If your credit score is low because you didn't uphold your side of the bargain on repaying loans, it's understandable that apartments take pause at that and wonder if you'll also try to skip out on upholding your lease.

Be warned that apartments with no credit checks will usually request something else to ensure you're good for renting: a higher deposit, a cosigner, higher proof of income, etc.

I'm still in school so I haven't had to pay any of the loans but they're still on my account. I know about the cosigner and higher deposit stuff and I'm willing to accept it.

Hmmm, then the student loans wouldn't be the source of a bad credit score. If they're deferred (don't require payment while in school), then there's not a chance to miss payments and aren't used to calculate FICO.

It may affect their DTI ratio even if they're deferred.

Yeah it's all a little bizarre the places I'm applying to use some other sort of checking along with my credit score. It's called an RV index and my student loans are being factored into that. I just said credit score because it seemed simpler to explain. It's very frustrating because without those loans I'd be approved.

But dti doesn't directly calculate into credit score. And student loans count as income for housing purposes as it's a legal way to use student loans. Apartments don't generally consider dti as it's more a use for lending purposes. They look at history of payments, bankruptcies, basically financial integrity. In this area, with so many students, colleges, and apartments, student loans wouldn't be a negative except for the most premium apartments, which I'm sure OP isn't pursuing.

You are fucked. That is it. I am sorry for being rude. But you might be jacked. You can cuddle with me though for 300 a month.

Back scratches are part of the deal.

I've already got a place here I'm just looking to move to another one but thanks for your...kind offer

Ahh, the shadow credit report. So they develop a tenant "profile" of a bunch of personal and financial details and run it through algorithms for a computer to decide if the tenant is high risk or not. That screening tool has even less regulatory oversight than credit scores, and people and advocacy groups have raised concerns that these secret screening methods are a way to bypass equal housing rights and discriminate against otherwise acceptable candidates. For your sake, I hope it's the screening tool basing it off your student loans, while still a poorly applied derogatory remark on your tenant likelihood, and not some other BS discrimination.

That sounds about right to me. If you have any experience with Wooten Co that's the one that's giving me all the issues. What's crazy is that I already live on one of their properties, I'm just looking to get a two bedroom to get a roommate. I've already been approved once for this company but got nixed the second time? I hate applying for apartments lol

Properties owned by Wooten are Equal Opportunity Housing, and from my experience only have asked for proof of income in order to rent. The caveat is that not all Wooten properties are created equally and some are better managed than others.

Well that's not the case anymore. The place I live now owned by Wooten and they asked for proof of income and checked my credit score, etc. I was approved a year ago and moved in. I'm trying to get a two bedroom on the same property and got rejected because of credit score and my RV index. I'm literally 4 points away from getting approved to have a cosigner. It's a literal nightmare working with this company. All of their other properties that I've called say I'd get rejected for the same thing.

i reside at a Wooten owned apartment and they definitely have rejected potential roomates for me due to their lower credit scores

I was unaware, and I'm sorry that you have to deal with that. Especially, if you have a history of paying on time, 4 points shouldn't matter.

Apartments absolutely do consider DTI, I’ve worked in apartments for 8-9 years and it’s ALWAYS been part of our criteria as a company. I’ve never worked in Springfield, but I have worked at 4 separate companies and a total of 6 communities.

That's crazy if you're already an established tenant and they won't accept transfer to any other property of theirs.

tried the student housing places? whats your budget

Student living places around here are ridiculously expensive. Plus we wouldn't get approved; neither me nor my potential roommate will be in college when we would need to start the lease.

you dont need to be. 505 isnt too bad and there back under there own management worth giving a try