Guarantor Application Help
My children and I have been in a rental for 16 months and the landlord is selling so we have until 10/01 to move out. My father has been paying and is the only one on the lease agreement (we kinda knew landlord so I guess it was special circumstance?). We were trying to find a house (approved for $1.2 million) to buy but that has failed so far, so now we are trying to find another place for lease.
The problem is I have no income this year and my credit is messed up. I will be starting work in a week but it won’t be anywhere near what I need to qualify even for a lower priced rental apartment. My father is willingly going to continue paying for the next two years. I want to apply but in order to do that he needs to be listed as a guarantor with income that is 4x the monthly rent, which he doesn’t have ($180k/yr) Will we be automatically rejected? I don’t want to pay application fees if it won’t even be considered.
None of this is making sense to me. How can he be approved to buy a house but not approved to rent? With everything else in life going on and trying to figure this out on my own, I’ve reached my wits end. Please help this pathetic soul understand.