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Norwalk Daily Voice serves Norwalk & Rowayton

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On-Time Rent Payments Improve Chance of Mortgage

Renters hoping to buy a house may find it easier to qualify for a mortgage if they pay their rent on time, according to an article in The New York Times .

In 2011, Experian , a credit-reporting company, added a section to credit reports listing on-time rent payments. CoreLogic and FICO , two other reporting companies are planning similar sections to their reporting systems.

Documenting on-time rent payment information could help potential home-buyers increase their credit scores.

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