Sparta Mortgage News

Always Pay Rent by Check

November 11th, 2015 4:12 PM by Mary Ann Munro

I can't stress enough how important it is for anyone who is currently renting.  Many times landlords will ask that you pay them in cash because this is more beneficial to the landlord, however, it doesn't help you provide a stable rental history.  In many cases of first time home buyers it becomes necessary to provide what we call a "housing history".  This let's the underwriter know that you prioritize your bills and are responsible with timely payments for your home.

If the landlord will not accept a check then the 2nd best option is to use a money order which will show your name and will be date stamped.  You will need to keep a record of each money order because unlike a checking account, that will be the only record of the transaction.  Money orders are as good as cash for any landlord.

I hope this tip was helpful!

Posted in:Renting
Posted by Mary Ann Munro on November 11th, 2015 4:12 PM