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rent receipts

Hello, I'm in the process of owning my first home thru FHA. my credit score is a 647 and I'm still working to achieve a better score. recently my mortgage broke said he needed my rent receipts for 12 months. problem is i usually grab a money order at a convince store and haven't done a good job keeping up with the receipts. my apartment complex said they don't make copies of money orders.they gave me a lodger with is a printout of my payment amount and money order number but the broker said they wont take it . my question is in this situation is there something else i can ask my apartment complex for? is there something else i can use ? rent letter.. something that's acceptable. by born2l_705_672 from Columbia, South Carolina. Aug 21st 2012 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

If your complex is owned by a company rather than an individual, then a letter is acceptable to FHA, however lender overlays will vary.. Some will accept it and some wont.. if the complex is owned by an individual, then they will not accept a letter.. You must provide canceled checks, copies of the money orders, rental receipts, or bank statements. If your bank statements show you deducting every month the amount equal to your rental payment, it's possible the underwriter might accept this as proof of rental payment, but it's really an underwriters call.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Aug 21st 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

William's answer is correct.

Aug 21st 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,431 contributions

FHA will require proof of satisfactory rent payment history. A printout from the apartment manager along with a "Verification of Rents" form completed by the apartment manager will usually suffice. Make sue your lender tells you why what yo produced is not satisfactory. Once you know this, it should be easy to get what you need from your landlord. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Aug 21st 2012
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Matt Elston (Matt.Elston)
#4 ranked lender in South Carolina - 50 contributions

A legible ledger and a "Verification of Rent" completed by the apartment manager should be sufficent if you paid your rent on time.Matt Elston, Mortgage Loan Originator, AgSouth Mortgages, 1321 Springdale Rd, Rock Hill, SC 29730office 803-324-1131, option 1melston@agsouthfc.com

Aug 21st 2012
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James Barath (JamesBarath)
#9 ranked lender in Indiana - 352 contributions

Institutional verification of rent or you will need to wait until your mid-FICO score improves so that your mortgage broker is no longer required to show proof of rental history. Good luck.

Aug 22nd 2012
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