Tenant qualification using SmartMove

[Ron T.]

Hi,

Does anyone know if SmartMove uses the combined income of two applicants in meeting the 3:1 requirement?  I currently have an Applicant and Co-Applicant.  The applicants reports came back with a "decline" recommendation while the Co-Applicant's (husband) report haven't been responded to yet.  If their combined income meets the 3:1 requirement will SmartMove change the applicant's recommendation to "accept"?

Thanks for any info.

Ron

[Sara Jackson]

Hello @Ron T.,

I am a representative with TransUnion SmartMove. In response to your question, if the combined income of both applicants meets or exceeds the income-to-rent ratio set for the property then the overall recommendation in SmartMove may change to Accept if all other qualifying criteria is met. The individual recommendation will not change. If you have any further questions I’m happy to help, just send me a note through BiggerPockets. Thanks!