Attention would be home buyer, a word of caution. Don't pay cash for your rent! Although paying cash for rent may be your landlord's preference, this is going to be an issue when you decide you want to purchase a home.
If you are renting from an apartment management company or through a property manager, a verification filled out by the property manager will be acceptable supporting documentation for your good payment history. If you are renting from an individual, you must document the landlord's claim that you have paid your rent on time. A receipt with a money order might be acceptable, but as the guidelines continue to change there is no guarantee that it will be when you buy. The best way to do that is with a canceled check.
Now, there have been some prospective home buyer's that I have talked with lately that told me they don't have a checking account. This is the first thing to is open a checking account! You aren't going to make a mortgage payment paying cash. The earlier you get this set up, the better.
As part of the underwriting criteria, your last two month's bank statements required. Not only do you need to provide the bank statements, but the information each line of the bank statement is also reviewed. Two things to watch for, running the balance down to almost nothing and over draft charges. The over draft charges, can be the difference between a loan approval and a loan denial.
If you are looking for other suggestions on what to do before you buy, please give me call.