(305) 793-1365 restivomiami@gmail.com

Rental History Impacts Getting a Loan

January 12, 2012

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

Last year, Experian-the credit report company- added a section which includes rental payments. It helped elevate scores for tenants who paid rent on time. Two other credit report companies are also adding the rental payment history section to their reports. Sources at FICO report that on time rental payments may help consumers because consumers with a low score could see an increase of 100 points or more on their reports. It seems as though the rental payment history does not have much effect on people with average or above average scores to begin with.

It seems that the new addition to the report benefits people who have been through a foreclosure, because it’s an opportunity for them to rebuild credit history quicker because they are paying rent on time. Given the number of foreclosed properties that have been on the market and are still to come, this news is helpful for those who have suffered the loss of their homes.

The Restivo Team would be glad to help you find a home, so give us a call today.

The Most Comprehensive Report On The Luxury Lifestyle

The Most Comprehensive Report On The Luxury Lifestyle

Berkshire Hathaway HomeServices, the defining voice in the luxury real estate industry, and The Wall Street Journal’s Mansion Global Custom Studios bring you the 2021 Global Luxury Landscape Report. The report delves deeply into the inner workings of the world’s...


Enjoy this blog? Please spread the word :)

Follow by Email