Rent Payment Edge: Use Your Rent Payments to Qualify for a Mortgage

Blog posted On December 08, 2022

Have you been discouraged from applying for a mortgage due to your limited credit history? We are happy to introduce our Rent Payment Edge program that helps reward renters with a good payment history!

Buyers who are eligible for Rent Payment Edge must:

• Be a first-time home buyer
• Be purchasing a primary residence
• Have a minimum credit score of 620
• Have made monthly rent payments of $300+
• Have 12+ months of consecutive rent payments

It really is that simple. Do you feel like you fit these criteria and are ready to go ahead and start the application process? Let us help you get started! The first step is to find out how much you can afford and get preapproved.

Items needed to get preapproved:

• Proof of income
• Proof of assets
• Form of identification
• Verification of employment
• Explanation of any debt you may have

How to prepare

If you’re not sure if you’re ready to buy or you’re still saving for a down payment, there are a few ways you can prepare in the meantime.

• Keep paying your rent consistently and on time
• Make sure your rent payments are showing up on your bank statements
• Connect with your Realtor to let them know buying is on the horizon
• Check out www.homefundit.com for a quicker way to save for your down payment!

If you’re interested in our positive Rent Payment Edge program, let us know! We would be honored to start your homeowner journey with you.