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Why did my pre-qualified amount go down after adding a guarantor?

Updated yesterday

When a guarantor is added to an application, their income is taken into account and overrides the primary applicant's income. Properties typically have different income requirements for leaseholders and guarantors, so a guarantor's verified income will be calculated using a different RTI (rent-to-income ratio).

Please check directly with the property you're applying at about their requirements.

Example:

Rosebud Towers has the following income qualification criteria:

Primary Applicant RTI: 3x the monthly rent

Guarantor RTI: 6x the monthly rent

Primary Applicant applying alone verified for $70,000: pre-qualified household amount = $1944.44

Guarantor added and verified for $125,000: pre-qualified household amount = $1736

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