Verification of Rent

[Anonymous]

Do all loans ask for Verification of Rent? My landlord passed away, and I've always paid him through Venmo. 

Anyone have a lender that did not require this?

[ShanetheMortgageMan]

Very few do, actually.  If your loan has to be manually underwritten then it'll be asked for.  Manual underwrites really only happen on VA, FHA & USDA loans these days.  The other type of loan that often asks for them is if you are financing a jumbo loan amount (over $510,400 for most of the U.S., higher in certain high cost markets).

To document Venmo payments to a landlord you should be getting emailed confirmations each time a payment is made, just collect the last 12 months of those email confirmations and along with a copy of the lease agreement (to confirm the amount you should be paying) then that should suffice.  

[Anonymous]

Good to know! I am leaning more toward a conventional loan to eliminate that MI after 20% is paid down. The concern I had was that is says, if required it cannot be shown any other way than through canceled checks. 

[NC_Mtg_Loaner]

Canceled checks are ideal.

[sxa001]

I didn't realize this was a thing, I pay my rent online so if a lender needed to see actual cancelled checks that wouldn't even be an option.  Hopefully won't actually be an issue, I mean I can show on my statement the property company that gets the money and they can see a copy of the lease and/or my actual statements each month from them showing the amount due.  

Good luck OP in getting things sorted, sorry to hear about the death of your landlord. 

[Anonymous]

You can get your payment info from Venmo. No stress. I don't pay my rent by check either.