There have been many changes in the underwriting process for a mortgage. If you want to borrow money, you have to prove you have a satisfactory payment history. This applies to applications for a mortgage, car loan, or credit cards.
In the mortgage process, the most important is showing on time payments for your housing. If you rent from an apartment complex, it can be documented with a verification of rent. If you rent from an individual, you must be able to document that payment history, Ideally, payment by check is preferably, at minimum would be by money order. The worst is paying CASH. In some cases cash is king but not when we need to document a housing payment.
If you have been thinking about a home purchase, make sure you can document your rental payment history.
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