How to make rent payments work harder for you

If you pay your rent each month, we believe you are likely to pay your mortgage consistently, too. That’s why our innovative technology gives mortgage lenders the ability to consider your consecutive monthly rent payments in determining if you qualify for a home loan.

Get recognized for your consecutive rent payments. You may be eligible if you:

Your lender will use digital technology to identify recurring rent payments of at least $300 made from your bank account.

To be eligible, you will need to have made 12 consecutive rent payments without missing a month. If 12 months of rent cannot be identified, you will not be able to leverage your monthly payments to help qualify for a mortgage. Please note that missed payments will not be counted against you.

To be considered a first-time homebuyer you must:

  1. Reside in the property you are purchasing as your primary residence
  2. And have had no ownership interest in a residential property during the three-year period preceding the date of the purchase of the property.

You will need to have a minimum credit score of 620 to consider 12 months of consecutive rent payments in your mortgage evaluation.

3 questions to ask yourself before taking the next step

1 of 3

Have you been paying rent every month for the past 12 months?

That's great.

Now, rent payments can count toward qualifying for a home loan.  Be sure to fill in the monthly amount you pay in rent when completing your loan application.

To use your rent history to help qualify for a home loan, you will need to showcase 12 rent payments in a row

Setting calendar reminders, using the same payment method every month, and budgeting can help you consistently make rent payments.

2 of 3

Do you have a credit score that is considered to be fair or good (at least 620)?

That’s awesome.

Along with 12 consecutive rent payments, your credit score may help you when purchasing a home.

This is important.

In addition to 12 consecutive rent payments in a row, you or a co-borrower will need an average credit score of at least 620 to be eligible.

3 of 3

Do you have bank account statements that show the most recent 12 months of recurring rent payments?

That's great

A lender will use secure technology to review your bank statements looking for positive evidence of your rent payments over the past 12 months.

Lenders need proof that you’ve made your rent payments.

To be eligible, a lender will use secure technology to review your bank statements looking for positive evidence of your rent payments over the past 12 months.

Ready to make your rent count?

View a list of participating lenders in your area to learn more.

Find a Lender

3 important details to consider

You’ll need to show proof of rent payments

To allow your lender to verify that you've been consistently paying rent, you must give consent. Your lender will use a digital process to access your bank account statements and can only view your account(s) for as long as needed for the loan process. Speak to your lender about how this information can be obtained securely and confidentially.

Only a positive change can come out of this

Missed or late rent payments are not identified and won’t be counted against you. Only consecutive rent payments may be considered in your mortgage evaluation. If you have questions about this, your lender can help.

This may make up for a limited credit history

If you have a limited credit history, this enhancement could help you qualify for a mortgage whether your rent payments are reported to the credit bureaus or not.

Paying Rent Pays Off

In this brief video, we will discuss why making consecutive rent payments is important and how it can benefit you when qualifying for a home loan.