Online Rental Payments

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This topic contains 1 reply, has 2 voices, and was last updated by  TTrumble 3 months, 1 week ago.

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  • #39914

    Ramona
    Member

    Hello,
    We have been paying rent for the last two years via check but two months ago my landlord switched to a digital method using an app called Venmo and we now pay through that. Is this going to affect our ability to qualify at all? The payments do appear on my bank statement.

    #39915

    TTrumble
    Member

    Hello Ramona,

    As long as the bank statement verifies where the funds are going (i.e., your landlord) you will be okay. With that and a completed Verification of Rental form from the landlord, there should be no problem at all.

    If for some reason the bank statement might leave some doubt as to the recipient of the funds, get your landlord to sign a Letter of Explanation about the switchover to the electronic payment method to clarify things.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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