You do not automatically need a guarantor with a 650 score; whether you need one depends on the apartment’s screening rules.
“I moved to the US less than two years ago. My credit score is 650 due to a missed payment a year ago, but my base salary is 60-70x the monthly rent and I have low 7-figure liquid investments. Will I need a guarantor to rent an apartment?”
Summary
Your income and investments support seeking approval on your own first. The uncertainty is how the particular landlord evaluates your credit and missed payment—not simply whether you can afford the rent.
You have a credible route to approval on your own, with a guarantor as a fallback rather than an automatic requirement.
If the property accepts your credit and payment history, your income can support direct approval. For a concrete example, LTR publishes a standard minimum credit score of 650 and gross monthly income of at least 3.33 times rent. Assuming your 60–70× figure means annual gross salary divided by monthly rent, you exceed that example’s income requirement. Meeting those two thresholds still does not guarantee approval. (LTR, Credit Qualification and Income & Financial Qualification.)
If the property offers approval only with a , use a person or commercial service that meets its requirements. LTR expressly says guarantor acceptance is not guaranteed. TheGuarantors says international residents and applicants with credit challenges may qualify, but not every building accepts its service. (LTR, Guarantors or Co-signers; TheGuarantors, renter FAQ.)
If a property’s mandatory credit criteria exclude you and it will not accept a guarantor or another qualification method, target a property with different criteria. Published policies show that credit, financial qualification, and guarantor acceptance are separate considerations—not one universal approval formula. (LTR, Credit Qualification and Guarantors or Co-signers; RPM Rental Criteria, §§2–3.)
The private screening policies below illustrate possible outcomes; none determines the decision for your unnamed apartment.
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Watch out for
Next steps
Use this order to seek direct approval and avoid paying for an unnecessary guarantee.
Before an application fee
Request a no-guarantor assessment before paying
Send the leasing office your figures and request assessment for approval without a guarantor, identifying any mandatory credit cutoff before you pay. The FTC specifically recommends learning what information the landlord uses before paying an application or background-check fee. Your actual property’s cutoff remains unresolved because the property was not identified. (FTC, Tenant Background Checks and Your Rights.)
Requirements
For direct approval
Submit a focused financial packet
Present these as a proposed review packet, with salary and investments shown separately. LTR’s published policy lists pay statements, employment verification, and appropriate bank or financial statements as possible verification methods; RPM publishes an asset-based alternative to income verification. Neither example promises that assets cancel a credit concern. (LTR, Income & Financial Qualification; RPM Rental Criteria, §2.)
Requirements
Only after a conditional decision
Arrange a guarantee only if the property requires it
Use the property’s accepted personal-guarantor route or commercial service. For TheGuarantors, the published process starts with an invitation from the property: https://www.theguarantors.com/renter. Its application is free, but coverage has a personalized, upfront, non-refundable premium; approval and property acceptance are not automatic. (TheGuarantors, renter page and FAQ.)
Requirements
Within 60 days of the notice
Obtain the report if credit adds conditions
If report information causes rejection or a cosigner requirement, obtain the notice and request your free report directly from the named screening company within 60 days. Review the missed-payment entry and other information for inaccuracies, and dispute any errors with the screening company. (FTC, Tenant Background Checks and Your Rights.)
Requirements
Legal sources
This answer uses FTC tenant-screening guidance and the published policies of LTR Property Management, RPM Property Management, and TheGuarantors; private screening policies are examples, not nationwide rules.
LTR Rental Application & Acceptance Policy
A published landlord policy uses 650 as its standard minimum but also considers payment history and other credit information.
Credit Qualification
LTR Property Management's standard minimum credit requirement is a credit score of **650 or higher** . The credit score is one component of the overall application evaluation. LTR Property Management may also consider lawful credit-related information contained in a consumer report, including payment history, outstanding obligations, collections, judgments, rental-related debt, and other information reasonably related to an applicant's ability and demonstrated willingness to satisfy financial obligations.
LTR Rental Application & Acceptance Policy
LTR’s income requirement provides a specific comparison for your salary, not a nationwide threshold.
Income & Financial Qualification
LTR Property Management's standard income requirement is: Combined qualifying gross monthly income of **at least 3.33 times the monthly rent** .
FTC: Tenant Background Checks and Your Rights
A report-based cosigner requirement triggers notice, free-report, and dispute rights.
Negative decisions and Fair Credit Reporting Act rights
A landlord might use a background check, score, or recommendation from the background check company to make a negative decision, including rejecting your application charging you more for rent requiring you to have a cosigner demanding you pay a larger security deposit If a landlord makes a negative decision about your application because of something in your report, the Fair Credit Reporting Act gives you the right to **Get a notice of the negative decision, called an “adverse action” notice.** The landlord must give you the notice — in writing, electronically, or orally. The notice must give you the name, address, and phone number of the tenant background check company tell you about your rights to dispute inaccurate information and to get a free copy of the report from the background check company if you ask for it within 60 days of the landlord’s notice to you
TheGuarantors Renter FAQ
A commercial-guarantor application is a possible fallback for international residents and applicants with credit challenges.
Why do I need a Lease Guarantee?
Whether you’re self-employed, a recent graduate, actively seeking work, an international resident, someone with credit challenges, or don’t meet a landlord’s income eligibility requirement, you may qualify with TheGuarantors.
TheGuarantors Renter FAQ
Applying is free, but an approved guarantee has an individualized, non-refundable price.
How much does it cost?
Pricing is personalized based on a few key factors, including your monthly rent, the coverage required by the property’s operator, and your financial profile. You’ll receive a personalized quote after completing our free online application. If approved, your policy is paid for as an upfront, non-refundable premium.
TheGuarantors Renter FAQ
The guarantee protects the landlord and does not eliminate your responsibility for unpaid rent.
Payment responsibilities
With Rent Coverage, if you fail to pay your monthly rent, the policy will reimburse the landlord, and you will be liable to TheGuarantors for those payments.
These are the official agency guidance and issuer policies as published on the dates shown; rules and screening policies can change.
This is general information about official processes, not legal advice, and SettleKit is not a law firm.
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