Below are the answers to Frequently Asked Questions about our Housing Cosigner Service:
What services do you provide?
A: We provide marketing and processing services for cosigners to sign housing & apartment leases for credit challenged renters.
Q: How do I apply for your services?
A: You would visit our website under apply now, and fill out an online form, and one of our service representative will contact you by phone concerning our services. After you speak to a leasing specialist, they will forward you a secured link, to an online cosigning rental application that will allow you to fill out and submit electronically, and pay your background checks.
Q: How does your services work?
A: We cosign for leases for renters, by becoming the guarantor
Q: Am I listed on the lease with the apartment community?
Q: What is the lease terms that you sign?
A: We sign 12 to 14 months leases
Q: Can I select my own apartment community to live?
Q: How long is the process?
A: Once you have been approved for cosigning services, you will be able to move into your unit within 10 days.
Q: How do I sign documents with your company?
A: We send all documents to renters electronically
Q: What states do your offer your services?
A: We provide nationwide cosigning services
Q: Do you charge any upfront fee's?
A: We do not charge any upfront fee's however if you are interested obtaining cosigning services through our company, we require all renters, to obtain a criminal background, credit, eviction, and financial check for verification of income, paid through third party services, a vendor authorized by Experian Credit Services, to provide renter background checks on behalf of landlords the cost is $57.00, paid by the applicant.
Q: I am nervous about giving my banking information to third party services, can I send you my bank statements by email?
A: Unfortunately No! the third party service is secured, licensed by Experian Credit Services, all services are provided electronically to renters and all documents are signed electronically.
Q: Why do you guys run financial information on renters?
A: We are a nationwide cosigning company, that service renters seeking our services online, it is our companies policy, to verify income from renters prior to the cosigner signing the leases to avoidfraudulent documentation.
Q: I have a bank account but I do not show any money in my account will this prevent me from obtaining cosigning services?
A: No, as long as we can verify your employment, or income we will cosign for your lease.
Q: My job is being relocated to another state, can you assist me with findind housing and cosigning for the lease?
A: Yes, we can forward you communities arrange for lease signing to allow you to travel and go straight to your apartment without delays.
Q: What are your service fee's?
A: For standard cosigning services without any evictions we charge a cosigning fee equal to one months rent, in addition to a legal fee of $525 a one time charge.
- 1 Eviction listed in your credit report? We charge a cosigning fee of a month and a half, plus a legal fee.
- 2 Evictions listed on your credit report? We charge a cosigning fee of two months rent plus a legal fee
- 3 Evictions listed on your credit report? We charge a cosigning fee of three months rent plus a legal fee
- More than 3 evictions? Decline of Services: If you have more than three evictions listed in your credit report, we will not service you.
Q: How do I know when I am approved?
A: Once we receive your online application and you have paid the background check fee's, our processing department will review your information, and either you will receive a pre-approval, approval or declined in your email box.
Q: Is your services Guaranteed after I am approved?
Q: Will my name be on the lease agreement?
A: Yes, all occupants over 18 years of age must be on the lease agreement with the community.
Q: Who signs the lease with the community?
A: Our Cosigners signed leases however depending on the regulation of the community, we allow renters to sign there own leases.
Q: How do we pay the fee?
A: American Cosigners, do not accept payments or fee's paid by renters. All cosigning fee's are paid directly to cosigners through athird party escrow/holding company by wire transfer.
Q: When does the holding company come into play?
A: Once we have secured a place for you to live? The cosigners will make the arrangements for your move in with your selective residence, at that time, you will be required to pay the cosigning fee and administration fee to the holding company.
Q: Am I also required to pay the apartment application fee and my move in cost, along with the cosigning fee's to the holding company?
Q: Do I pay any fee's to the apartment Community or hold deposits before I use your services?
A: No, if you pay any fee's to the community or selected rental prior to using our services, you would need to qualify with the community on your own merits.
Q: Do You guys offer a list of Apartments that use your services in my city or state?
A: We do not provide apartment listings concerning our services to renters, but can offer suggestions concerning rental availabilities