First time home buyer with 2 months of on time rent payments is not that much of a qualifier. And yeah, it has to be actual rent, and not just saying “I paid my uncle in cash.”
Yeah, it doesn’t help you buy your second home. Yeah, you can’t do it at 18 if you haven’t moved out of your parents house.
And there is a lot of single family home renting in the US as landlording is seen as a legitimate income source and investment. Those people would be excluded if not done correctly and that’s likely true for a massive portion of them.
And the fact that in a population of 100 million renters in the US it leaves a majority of them out.
First time home buyer with 2 months of on time rent payments is not that much of a qualifier. And yeah, it has to be actual rent, and not just saying “I paid my uncle in cash.”
Yeah, it doesn’t help you buy your second home. Yeah, you can’t do it at 18 if you haven’t moved out of your parents house.
That’s about it.
2 years not months.
And there is a lot of single family home renting in the US as landlording is seen as a legitimate income source and investment. Those people would be excluded if not done correctly and that’s likely true for a massive portion of them.
And the fact that in a population of 100 million renters in the US it leaves a majority of them out.