Loans By Kathy

Credit History Is Necessary

kathy sheehan mortgageThere have been many changes in the underwriting process for a mortgage.  If you want to borrow money, you have to prove you have a satisfactory payment history.  This applies to applications for a mortgage, car loan, or credit cards.

In the mortgage process, the most important is showing on time payments for your housing.  If you rent from an apartment complex, it can be documented with a verification of rent.  If you rent from an individual, you must be able to document that payment history,  Ideally, payment by check is preferably, at minimum would be by money order.  The worst is paying CASH.  In some cases cash is king but not when we need to document a housing payment.

If you have been thinking about a home purchase, make sure you can document your rental payment history. 


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Kathy Sheehan Senior Loan Officer






Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988



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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.


Comment balloon 12 commentsKathy Sheehan • April 22 2012 09:10PM
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