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FHFA directive now allows Fannie Mae & Freddie Mac to count rent for mortgage applications
Posted on 7/9/25 at 8:36 am
Posted on 7/9/25 at 8:36 am
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Bill Pulte, Director of the Federal Housing Finance Agency (FHFA) under President Trump, announced a new policy that allows on-time rent payments to count toward mortgage qualification.
Traditionally, mortgage lenders have based creditworthiness mostly on things like credit card use and loan repayment. This change expands that definition, letting consistent rent payments help people qualify — which is a significant shift.
This benefits anyone who rents and has a limited credit history, such as people who:
Don’t use credit cards much,
Don’t have student or car loans,
Pay rent reliably but haven’t had that reflected in their credit score.
The goal is to make the mortgage process more inclusive of real-world financial behavior, not just traditional credit metrics.
Now you young guys don't have to cut back on Starbucks to qualify for a mortgage
11
Posted on 7/9/25 at 8:38 am to stout
So if you rent from a family member lets say and not some management company how does that exactly get reported?
I know they did this with utility bills
I know they did this with utility bills
Posted on 7/9/25 at 8:41 am to stout
Any mortgage lender worth a shite could do a manual underwriting and take proper rent payments into account
Posted on 7/9/25 at 8:42 am to SDVTiger
quote:
Landlords or property managers can partner with services like:
RentTrack
Esusu
PayYourRent
Zego
LevelCredit
These services report rent payments directly to credit bureaus like Experian, Equifax, and TransUnion.
Not sure what to do if its a family member
Posted on 7/9/25 at 8:43 am to stout
Credit metrics are hard to decipher most of the time, so this is a good decision potentially.
The fact your credit score can go up and down with too much and also too little debt is asinine. Going in debt creates good credit, getting rid of debt can lower your credit
If people have a solid history of paying rent on time, that is better than keeping a revolving debt on a credit card
The fact your credit score can go up and down with too much and also too little debt is asinine. Going in debt creates good credit, getting rid of debt can lower your credit
If people have a solid history of paying rent on time, that is better than keeping a revolving debt on a credit card
Posted on 7/9/25 at 8:43 am to stout
quote:
FHFA directive now allows Fannie Mae & Freddie Mac to count rent for mortgage applications
if, and i'm sure it's a big "if" but if this implemented and done correctly, this really isn't a terrible idea....
now, using crypto assest on a mortgage app, like was announced a week or so ago, yeah, that's absolutely fricking retarded
Posted on 7/9/25 at 8:44 am to mylsuhat
On conventional, sure.
But generally not on FHFA-backed loans because the focus was on traditional credit lines and repayment histories.
But generally not on FHFA-backed loans because the focus was on traditional credit lines and repayment histories.
Posted on 7/9/25 at 8:50 am to stout
You have to show timely deposit being made in to a checking or savings account of the landlord for the amount of
rent over a certain period if time. Conventional mortgages have accepted this as for years so it's not new to the mortgage industry.
rent over a certain period if time. Conventional mortgages have accepted this as for years so it's not new to the mortgage industry.
Posted on 7/9/25 at 8:50 am to stout
No wonder so many boomers hate Trump, he’s trying to help millenials buy a house
Posted on 7/9/25 at 8:50 am to chRxis
quote:
now, using crypto assest on a mortgage app, like was announced a week or so ago, yeah, that's absolutely fricking retarded
Why would that be retarded?
Posted on 7/9/25 at 8:56 am to stout
This isn't new. I was a mortgage loan officer for many years and rental history was allowed to be factored into the underwriting decision.
Posted on 7/9/25 at 9:02 am to VABuckeye
Yes on Conventional through banks. Not Fannir or Freddie backed. We already covered that.
This post was edited on 7/9/25 at 11:23 am
Posted on 7/9/25 at 9:09 am to stout
In this case, we should give fat people higher scores given they have no shoplifting convictions because we know they bought a lot of food in the past.
Posted on 7/9/25 at 9:26 am to stout
Cash in the bank and no debt= bad credit
Lots of debt and loans paying on time=good credit
Entire credit system should be tanked
Lots of debt and loans paying on time=good credit
Entire credit system should be tanked
Posted on 7/9/25 at 9:27 am to stout
FHA as well since 2022.
Posted on 7/9/25 at 9:34 am to RealDawg
quote:
Cash in the bank and no debt= bad credit
Entire credit system should be tanked
You don't need so much credit when you have cash, therefore you need not worry about the system. The people that should worry are exactly the ones that will not. They need that Hellcat, yo.
Posted on 7/9/25 at 9:35 am to RealDawg
quote:
Entire credit system should be tanked
At the very least it needs to be far less opaque and not the total determinant of a person's worth in this country.
Posted on 7/9/25 at 9:35 am to VABuckeye
Yes FHA allows the use of alternative credit sources. They have for years. They also take Utility bills not on your credit. That is nothing new.
This is Fanne and Freddie, as the title clearly says
Are you saying the head of FHFA is wrong?
This is Fanne and Freddie, as the title clearly says
Are you saying the head of FHFA is wrong?
Posted on 7/9/25 at 10:22 am to DarthRebel
quote:
If people have a solid history of paying rent on time, that is better than keeping a revolving debt on a credit card
I agree, usually. This is the best indicator they pay their monthly housing costs on time. That should be the most important.
An exception would be someone who has continuously increased their debt load consistently and is headed for a financial position of not being able to pay these housing costs.
Posted on 7/9/25 at 10:27 am to stout
This has been allowed for years.
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