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Responsibility counts. Reliability counts. Now, rent counts.

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Make Rent Count

With a solid rent history, your rent payments can help you qualify for a home loan.

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.

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.

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.

How does it work?

Providing your mortgage lender with digital access to 12 months of bank statements is a fast, easy, safe way to certify and share your rent payment history and help you qualify for a mortgage. You’re providing the same information that’s available on printed statements in a convenient digital format.

Digital verification details vary by lender, but the process follows these basic steps:

Frequently asked questions

No. Checking your banking information for consistent rent payments will not negatively impact your credit score. This is a positive-only impact and does not negatively impact your chance to qualify for a mortgage.

Lenders must receive your permission prior to accessing any personal information or allowing a vendor to access rent payment history. Speak to your lender to learn more about their process for ordering and obtaining bank statements.

On the loan application, you must provide the monthly amount you pay in rent. If this is not filled in, you will not be able to leverage consistent rent payments in the loan application process. Your lender will work with you so that you can provide secure access to the accounts from which you pay rent. Once you provide this access, your consistent rent payments can be evaluated.

Late rent payments that do not otherwise show up on your credit report will not negatively impact your mortgage evaluation.

If you only pay a portion of the total rent each month (e.g., you share rent with roommates), complete the application with the amount of rent you pay so the consistent payment amount can be observed and assessed.

If rent is paid from multiple accounts, rent payments can be combined if a consistent payment amount is found in different accounts. You must identify all accounts from which rent is paid for your lender.

Our technology is looking for evidence of consistent rent payments. Rent payments that appear in the payment history of your bank account qualify, whether made by check or electronically via any digital payment platform like Venmo, PayPal, or Zelle. Payments must appear as debit transactions in one of the bank accounts to which you provided your lender access.

The digital verification process is a snapshot (i.e., just like a bank statement) of your banking activity that focuses on rent payments. Digital verification details vary by lender, but, in general, you should be in control of the information they can access. Talk to your lender to learn more.

Your lender does not have ongoing access to your bank data. They can only view data for as long as you give your lender consent to do so.

Speak to your lender to make sure they are not sharing your information. Review any consent and authorizations associated with pulling your data.

Our technology is looking for evidence of consistent rent payments. Your rent payments paid via money orders purchased using your bank account will be evaluated if those payments appear as debit transactions in one of the bank accounts to which you provided your lender access.

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