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Verification of rent?

I have been living with family and paying cash. How would I be able to provide proof of a rental history for qualification for a loan? by jessica973 from Redvale, Colorado. Nov 25th 2015 Reply


David Hosterman NMLS 220562 (dhosterman)
#13 ranked lender in Colorado - 26 contributions

Many times rental history is not required to be documented. If it is we could ask your parents to fill out a verification of rent. Feel free to reach out to me should you need some help. Have a great day!

Nov 25th 2015
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Kay Cleland (kay@kcmortgagecolorado.com)
#3 ranked lender in Colorado - 225 contributions

Great day to you. You do not always need rental history. We have several products that we can try to see if we can do without rental verification.

Nov 27th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

First, I would say that not every borrower has to prove rental history.. in fact most don't.. but if your lender is requiring it, then there are only a few acceptable forms. especially since you live with family.. If you can show with 1 you withdrew the same amount around the same time every month,

Nov 30th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

First, I would say that not every borrower has to prove rental history.. in fact most don't.. but if your lender is requiring it, then there are only a few acceptable forms. especially since you live with family.. If you can show with 12 months bank statements where you withdrew the same amount, around the same time, every month, then that might be acceptable.. otherwise, only canceled checks or electronic transfers would work. Typically, this is asked for by borrowers with insufficient credit history, and the lender is trying to use alternative credit history such as rental payments to qualify you.. FHA guidelines are very clear on the acceptable forms.. Talk to your loan officer.. they should be able to give you more insight as to what might or might not work for your specific scenario. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Nov 30th 2015
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Kelli Paddilla (kjhomefinder)
#29 ranked lender in Colorado - 6 contributions

I would go to Staple and get a receipt book and fill the monthly rental receipts out by hand and make copies for your broker, so that you can get credit for it. They may also ask for a lease agreement, but I can send you a writable lease if you do not have one.

Nov 30th 2015
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