{"id":116640,"date":"2021-08-17T00:44:25","date_gmt":"2021-08-17T07:44:25","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=116640"},"modified":"2021-08-17T00:44:25","modified_gmt":"2021-08-17T07:44:25","slug":"your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/","title":{"rendered":"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces"},"content":{"rendered":"

If you\u2019re working to build credit while renting your home, you\u2019re about to see a positive change coming up on your path to homeownership: According to a recent press release<\/a>, Fannie Mae said it would add a new feature to its mortgage underwriting system that would consider the history of rent payments during the credit worthiness evaluation.<\/p>\n

As a result, renters who have a limited credit history but consistent timely rent payments will be able to submit their rent payment history as part of their mortgage credit evaluation process. This change will go into effect on September 18, 2021. Notably, while consistent rent payments can be used to improve your eligibility, missed or inconsistent payments will not negatively impact your chances to qualify for a mortgage, per the press release.<\/p>\n

The rent payment history will be accessed through the applicant\u2019s bank statement data (where electronic or check payments can be identified), and the applicant must provide access to this data. Payments made via online platforms or a company\u2019s payment portal can also be easily identified. However, cash payments may not be able to be accounted for.<\/p>\n

Additionally, this change does not mean that rent payments will become a mandatory part of the evaluation for mortgage eligibility. In fact, applicants with sufficient credit history can choose not to include their rent payments in the assessment process.<\/p>\n

\u201cMany renters believe they will never be able to buy their own home because of insufficient credit,\u201d said Hugh R. Frater, chief executive officer at Fannie Mae. \u201cWe can responsibly expand mortgage eligibility by including positive rent payment history in underwriting risk assessments.\u201d<\/p>\n

Currently, fewer than 5% of renters report rent payment history on the credit report today \u2014 a number that is likely to change once this new measure is implemented. Therefore, for many renters who see a long road to homeownership because of insufficient credit history, this change promises to be a major step forward.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re working to build credit while renting your home, you\u2019re about to see a positive change coming up on your path to homeownership: According to a recent press release, Fannie Mae said it would add a new feature to its mortgage underwriting system that would consider the history of rent payments during the credit…<\/p>\n","protected":false},"author":148,"featured_media":116646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3660],"tags":[],"class_list":["post-116640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news","gallery-content-unit"],"yoast_head":"\nYour Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces\" \/>\n<meta property=\"og:description\" content=\"If you\u2019re working to build credit while renting your home, you\u2019re about to see a positive change coming up on your path to homeownership: According to a recent press release, Fannie Mae said it would add a new feature to its mortgage underwriting system that would consider the history of rent payments during the credit…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-17T07:44:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mihaela Buzec\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mihaela Buzec\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/\",\"name\":\"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces - RentCafe rental blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg\",\"datePublished\":\"2021-08-17T07:44:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/b510a69aa13be0d422865c49655573de\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#primaryimage\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg\",\"width\":890,\"height\":400,\"caption\":\"rent payment mortgage eligibility\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rentcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/\",\"name\":\"RentCafe rental blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/b510a69aa13be0d422865c49655573de\",\"name\":\"Mihaela Buzec\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Mihaela-Buzec_headshot.png?w=96\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Mihaela-Buzec_headshot.png?w=96\",\"caption\":\"Mihaela Buzec\"},\"description\":\"Mihaela Buzec is a senior writer, researcher, and online content developer for RentCafe, where she has over 7 years of experience writing about the real estate industry. She authors important resources such as the statistics pages describing generational patterns and renter's guides that help renters in their journey. Her work has appeared in publications such as Apartment Therapy, Indy Star, and Investopedia. Mihaela is a published researcher and activates within academia as well. She holds a BA in English and German Language and Literature, an MA in Current Linguistics, and a PhD in neurolinguistics.\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/author\/mihaelab\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces - RentCafe rental blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/","og_locale":"en_US","og_type":"article","og_title":"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces","og_description":"If you\u2019re working to build credit while renting your home, you\u2019re about to see a positive change coming up on your path to homeownership: According to a recent press release, Fannie Mae said it would add a new feature to its mortgage underwriting system that would consider the history of rent payments during the credit…","og_url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/","og_site_name":"RentCafe rental blog","article_published_time":"2021-08-17T07:44:25+00:00","og_image":[{"width":890,"height":400,"url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg","type":"image\/png"}],"author":"Mihaela Buzec","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mihaela Buzec","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/","url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/","name":"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces - RentCafe rental blog","isPartOf":{"@id":"https:\/\/www.rentcafe.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#primaryimage"},"image":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg","datePublished":"2021-08-17T07:44:25+00:00","author":{"@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/b510a69aa13be0d422865c49655573de"},"breadcrumb":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#primaryimage","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg","width":890,"height":400,"caption":"rent payment mortgage eligibility"},{"@type":"BreadcrumbList","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/your-rent-payment-history-will-now-count-when-time-to-buy-a-home-fannie-mae-announces\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rentcafe.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Your Rent Payment History Will Now Count When Time to Buy a Home, Fannie Mae Announces"}]},{"@type":"WebSite","@id":"https:\/\/www.rentcafe.com\/blog\/#website","url":"https:\/\/www.rentcafe.com\/blog\/","name":"RentCafe rental blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/b510a69aa13be0d422865c49655573de","name":"Mihaela Buzec","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Mihaela-Buzec_headshot.png?w=96","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/01\/Mihaela-Buzec_headshot.png?w=96","caption":"Mihaela Buzec"},"description":"Mihaela Buzec is a senior writer, researcher, and online content developer for RentCafe, where she has over 7 years of experience writing about the real estate industry. She authors important resources such as the statistics pages describing generational patterns and renter's guides that help renters in their journey. Her work has appeared in publications such as Apartment Therapy, Indy Star, and Investopedia. Mihaela is a published researcher and activates within academia as well. She holds a BA in English and German Language and Literature, an MA in Current Linguistics, and a PhD in neurolinguistics.","url":"https:\/\/www.rentcafe.com\/blog\/author\/mihaelab\/"}]}},"jetpack_featured_media_url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/rent-payment-history.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/116640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/users\/148"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/comments?post=116640"}],"version-history":[{"count":1,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/116640\/revisions"}],"predecessor-version":[{"id":116648,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/116640\/revisions\/116648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media\/116646"}],"wp:attachment":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media?parent=116640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/categories?post=116640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/tags?post=116640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}