Make Rent Count

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. If your rent payments aren’t reported on your credit report, 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.

Some apartments offer positive rent reporting services to residents where timely payments are reported to the credit bureaus to help establish or improve your credit history. Check with your landlord or property management company to see if this is offered where you live.