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Can I add a Guarantor to My Application?
Can I add a Guarantor to My Application?

I recently applied but got denied. Can I add a guarantor or pay a double deposit

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Written by WILMOTH Group
Updated over 5 months ago

You can indeed add a guarantor to your application. However, the guarantor must meet all the qualifications, and having a guarantor does not guarantee approval. The amount of security deposit that will be required will be assessed based on the strength of the guarantor.

It's important to note that a full application for the guarantor will be required. A credit report will be pulled and the credit score will be reviewed as part of the entire application with no one number disqualifying an application. Additionally, income will be verified, and the guarantor(s) total confirmed net income should be at minimum 2.5x the rent. Unpaid rental debt or an eviction within the last 5 years will disqualify the application, and criminal background checks are also completed, with certain convictions leading to denial of the application. Bankruptcies must be fully discharged to qualify.

Another name for a guarantor is a co-signor. You can learn more about how to be a cosigner in this article. https://help.wilmothgroup.com/en/articles/6442304-how-to-be-a-cosigner

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