Preliminary Credit Application – Lease Options

What is Preliminary Credit Application

The Preliminary Credit Application states not only the name and phone number as well as address of the applicant but also the number of years he or she is living there, the payment amounts, the details of the landlord’s name and address, the employers name and address as well as the position being held in the organization. The Preliminary Credit Application gives details of the supervisor and the details of the income as well. This is also added to the details of the co-applicant. They have to then inform of whether they are smokers, if they have willfully as well as intentionally refused to pay the rent or if the income can be interrupted which will cause them problems in paying the rent, the details of the late payments of the past year, details of eviction from tenancy, details of bankruptcy, repossession, details of all the people who will live with the persons, the details of the vehicles owned, the bank account number, type of account, the name of the bank. The Preliminary Credit Application informs of the details of the current monthly payments made whether for mortgages, rent, utilities, car payments, child support, student loans, credit cards and another such expenses. One needs to also mention their previous credit reference, details of their nearest relative who isn’t staying with them. Incase any of the details furnished are considered false, then the seller has the right to discontinue contract negotiations. The credit check permission too needs to be allowed by the applicant.

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PRELIMINARY CREDIT INFORMATION

PROPERTY:  ______________________________________________        DATE:  _________________________

Applicant’s Name:  ________________________________________________________________________
First                        Middle                   Last
Phone (h):  ____________________ Phone (w):  _____________________   SS#: ______________________

Present Address:  ___________________________________________    City:    ________________________
No. of                 Monthly
State:  ______________   Zip: _____________    Years There:  __________    Payment  $______________

Current Landlord’s Name:  _______________________________________    Phone:  _________________

Landlord’s Address:      _______________________________________________________________________

Current Employer:    ________________________________________    Position:  _____________________

Employer’s Address:  ______________________________________________________________________
Supervisor’s                         Supervisor’s                How Long
Name:  _____________________________        Phone:  ______________________    There:  ___________
When can
Desired Length of Occupancy:  ____________________________________    you occupy?:  ___________
Are you a
Monthly Income Before Deductions:  $______________________________    Smoker?:  ______________

Other Income:  Real Estate, Child Support, Social Security:  $_____________________________________

Co-Applicant’s Name:  _____________________________________________________________________
First                Middle            Last
Phone (h):  ____________________     Phone (w):  ______________________ SS#: ______________________

Present Address:  ___________________________________________    City:    ________________________
No. of                 Monthly
State:  ______________   Zip: _____________    Years There:  __________    Payment  $______________

Current Landlord’s Name:  _______________________________________    Phone:  _________________

Landlord’s Address:      _______________________________________________________________________

Current Employer:    ________________________________________    Position:  _____________________

Employer’s Address:  ______________________________________________________________________
Supervisor’s                         Supervisor’s                How Long
Name:  _____________________________        Phone:  ______________________    There:  ___________
When can
Desired Length of Occupancy:  ____________________________________    you occupy?:  ___________                                                Are you a
Monthly Income Before Deductions:  $______________________________    Smoker?:  ______________

Have you ever willfully and intentionally refused to pay rent when due?                  Yes          No

Do you know of anything which may interrupt income or ability to pay rent?              Yes          No

Do you have any late payments of any kind in the past year?                      Yes          No

Explain:  _________________________________________________________________________________________

Have you ever been evicted from Tenancy?                              Yes          No

Have you ever declared bankruptcy?          Yes          No        If yes, when? _______________________________

Have you ever had a repossession?          Yes          No        If yes, when?  _____________________________

PEOPLE WHO WILL BE LIVING WITH YOU:
Name                                  Age            Relationship

# of Vehicles:  ________     Any pets?    Yes     No      How many?  ___________      Type:  ___________________

Name of Bank:  ______________________________________        Checking Acct. #:  ______________________

Savings Acct. #:  _____________________________________        Driver’s License #:  _____________________

Approximate Cash available for deposit/closing:  $____________________
Current Monthly Payments:            Monthly                Remaining Balance

Rent/Mortgage  $ ___________________        $________________
Utilities           ___________________
Car Payment            ___________________        $ ________________
Child Support      ___________________
Credit Cards        ___________________        $ ________________
Student Loan           ___________________        $ ________________
TOTAL   $ __________________
Previous Credit References:
Name                Address                       Limit          Acct. #

Nearest Relative Not Living With You:      Name:  ___________________________________________________

Address:  __________________________________     City:  ___________________     State:  ___________________

Phone:  _____________________________________        How related?  ________________________________

I HEREBY CERTIFY THAT THE ABOVE INFORMATION IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE.  I UNDERSTAND THAT THIS INFORMATION HAS BEEN GIVEN TO HELP EVALUATE MY CREDIT SITUATION IN AN ATTEMPT TO AID THE SELLER IN RECOMMENDING CONTINUANCE OF THE CONTRACT NEGOTIATIONS.  ANY FALSE ANSWERS OR STATEMENTS MADE BY ME WILL BE SUFFICIENT GROUNDS FOR THE SELLER TO DISCONTINUE CONTRACT NEGOTIATIONS.  I GIVE MY PERMISSION TO HAVE A CREDIT CHECK DONE ON MYSELF OR ANY OTHER PROSPECTIVE OCCUPANT AT THIS TIME OR ANY TIME IN THE FUTURE AS THE OWNER OR OWNER’S REPRESENTATIVE DEEMS NECESSARY.  $25.00 APPLICATION FEE.

APPLICANT:  _______________________________________________    DATE:  ________________

CO-APPLICANT:  ___________________________________________        DATE:  ________________