At Camden Homes, a renter is approved or rejected based on a lease point system. At the end of the application process, if an applicant has 6 or more points they are approved, if they have 5 points they are approved with a 50% higher security deposit. If applicant has less than 5 points, they are not approved to rent. Read below to learn more about our rental criteria and points system. At this time we are not accepting Section 8 housing vouchers across any of our listed homes.
credit score points
- 0-549: Guarantor/cosigner will be required, Reject if no co-signer.
- 2 Points: 550-599 (or N/A)
- 3 Points: 600-649
- 4 Points: 650-675
- 5 Points: 676-699
- 6 Points: 700+
For co-applicants: average the credit score for the top TWO applicants.
For applications with co-signers: Co-signers MUST have a 700+ credit score. 6 points if this is met, reject if not.
For applicants who pay a lump sum of the lease amount up front: +1 point for every 6 months of the lease paid up front. Cannot exceed 6 points.
- Reject: <2x Monthly Rent
- 0 Points: >2x Monthly Rent
- 3 Points: >3x Monthly Rent
- 4 Points: >4x Monthly Rent
For co-applicants: sum only the top TWO applicant incomes.
For applications with co-signers: 4 Points: Co-signers MUST have an income 6x that of the monthly rent. Reject if not.
For applicants who pay a lump sum of the lease amount up front: +1 point for every 6 months of the lease paid up front. Cannot exceed 4 points.
- 0 Points: <1 Year
- 2 Points: >2 Years
- 3 Points: >3 Years
For co-applicants: average the points for the top TWO applicants.
For applications with co-signers: Co-signers MUST be employed at current job for >3 years or self employed for >5 years / retired. 3 points if met, reject if not.
verification of lease
- +2 No Late Payment Over 30 Days
- +1 Reference Letter or (copy of ledger showing applicant name & property / Management Co. Name) From Landlord in last 36 Months
For applicants who own their home: we will look at mortgage payments history from the credit report to determine points in this category.
- -4 for foreclosures in last 24 months
- -3 Points: Within last year- Dismissed
- -2 Points: Over 1 year- Dismissed
- Reject: Open Evictions in Last 36 months
- Reject: Open Bankruptcy
- -4 Points: Within last year
- -2 Points: Over one year
For co-applicants: reject entire group if any applicant has an open bankruptcy.
For applications with co-signers: reject entire group if co-signer has any bankruptcies in the last 12 months.
- Reject: Sex Offender or Domestic Violence Charge
- -2 Points each: Misdemeanor in past 7 years
- -4 Points each: Felony in past 7 years