Frequently Asked Questions

From becoming pre-approved to purchase a home, to giving your credit a boost by reporting your rent payments to the credit bureaus, we are here to help you on your home purchase journey. Please feel free to reach out with any additional questions you have.

About Rent Reporting

What is rent reporting?

Rent reporting allows renters to report their on time rent payments to the credit bureaus on a monthly basis, which establishes a new trade line on their credit report. Since rent payments are not automatically reported to the credit bureaus by property management companies, HomeLoanGurus provides the service to verify the rent payments and submit the data to the credit bureaus. This allows renters assistance in building a stronger credit profile by reporting an activity they are already doing.

How does it work?
  1. Step 1:  To enroll, you will need to speak with a HomeLoanGurus representative by calling 800-590-6962. During your call, you will be sent an enrollment link to complete the enrollment process. Due to compliance requirements, when you enroll, you will need to provide the following:
    1. Your Social Security Number, date of birth, address where you rent, and a copy of your lease agreement.
    2. You will need to confirm your identity and/or provide a copy of your ID if requested.
    3. You will need to link your bank account from which your rent payment is made. This is done through Plaid during the enrollment process.
      • Only payments made through your bank, Zelle, Cash App, Venmo, or check can be accepted. We cannot accept or confirm payments made by cash, money orders, or cashiers checks.
  2. Step 2:  Once enrollment is complete, and you have provided a copy of your Lease, HomeLoanGurus will verify the data provided and will activate your rent reporting. It may take up to 48 hours to activate your rent reporting after we receive a copy of your Lease. It is important to provide a copy of your Lease in a timely manner to avoid any reporting delays. You can upload a copy during the enrollment process, or you can return to your account and upload it later.
  3. Step 3:  Once your account is verified and activated, HomeLoanGurus will report your current and past rental payments to the credit bureaus. Using your credit monitoring dashboard in your account, you will be able to see a new rental tradeline on your credit report. As you continue to pay your rent, you will see additional payments added to your credit report. Important:  HomeLoanGurus can only report your successful rent    payments as long as your account is connected to your form of payment with Plaid. If you receive a notification from HomeLoanGurus that your Plaid connection needs updated, be sure to reconnect it.
What are the benefits of rent reporting?

Credit bureaus are now accepting rent payment data, and that rent payment data can be established as a new rental tradeline on your credit report. Each positive tradeline on your credit report can help you improve or build your credit. You are already paying your rent monthly, so it is an easy way to receive the credit score benefits by reporting it. Even though every person is different, customers have seen their scores increase by over 105 points during the period of their Lease. With a higher credit score, you can reach your goals of qualifying to purchase a home and rent reporting has been proven to help people accomplish that.

Who is eligible for rent reporting?
  1. Most people are eligible for rent reporting, and the requirements are simple. You need to have an active Lease, and you have to pay your rent through your bank account or an account linked to your bank account.
  2. What is not acceptable:some text
    1. You have to be renting a residential property. Commercial properties do not qualify.
    2. You cannot be the owner of the property you are trying to report rent payments on. Meaning, you cannot be on the title or deed of the property.
    3. An invalid Lease agreement.
How do I get started?

Call HomeLoanGurus at 800-590-6962 to start your enrollment and account verification.

Do you need to speak with my landlord?
  1. In most cases, HomeLoanGurus does not need to speak with your landlord. However, we do need to collect your landlord’s name, phone number and email address in the case we need to and for verification purposes. 
  2. When providing your landlord’s name and contact information, please be sure to include the proper information. If you rent from an individual landlord (non-management company), provide their first and last name and email address. If you rent from a property management company, you will need to provide the name (company name), phone number and email address of the company. Be sure not to provide an individual’s name. 
I have moved, or my Lease has expired what do I need to do?

If your Lease has expired or you have moved and signed a new Lease, we will need to collect a copy of your new Lease to report your rent. You can submit your new Lease online in your account for verification. If your account was deactivated because you Lease expired, you will need to activate it again by calling HomeLoanGurus at 800-590-6962.

What happens if rental payments are inaccurate on my credit report and I dispute them?

HomeLoanGurus manages and responds to all disputed through E-Oscar. E-Oscar allows Data Furnishers such as HomeLoanGurus and Credit Bureaus to respond to credit disputes. HomeLoanGurus will follow the guidelines set forth with the FCRA for all disputes.

Documents Needed

What documents are required to report my rent?

In order to activate your account to report your rent payments to the credit bureaus, your account must go through a verification process. To verify, you will need to enroll in our system and provide your Social Security Number, date of birth, address and identity verification. You must also provide a valid copy of your current Lease agreement. You will be able to upload your Lease in your account upon enrollment, or at a later date. We will be unable to activate your account until you provide us with a valid copy of your Lease.

I have moved, do you need a new copy of my Lease?

If you have moved, or your Lease has expired and you are renewing at the same location, we will need to obtain a new copy of your Lease. You can upload it in your account, or call us at 800-590-6962 to be sure your reporting is not disrupted.

I pay rent, but my name is not on the Lease.

Unfortunately, if you are not on the Lease you will not be able to report your rent payments to the credit bureaus. You could reach out to your landlord and request that your name is on the Lease, but until it is, you would not be able to report your payments.

I sublease, does that work?

If you sublease, you can only report your rent payments if you are on the original Lease agreement.

Refunds / Cancellation

How do I cancel?

To cancel your rent reporting services, simply call HomeLoanGurus at 800-590-6962. Your rent reporting will be canceled immediately upon request.

What happens to my credit if I cancel my rent reporting?

If you cancel your account with HomeLoanGurus, your rental tradeline will be reported as closed on your credit report. You will no longer receive the benefits of an active tradeline. This may or may not affect your credit score in a negative or positive way. It is always best for your credit score to have open and active positive tradeline such as rent reporting.

If I cancel, do I get a refund?
  1. No refunds will be given if you cancel your account with HomeLoanGurus. However, if HomeLoanGurus is unable to verify your account and activate it, you will be provided with a full refund minus the $9.95 monthly report fee. The only way HomeLoanGurus would not be able to verify and activate your account would be if you provided incorrect information during the enrollment process.
  2. If you cannot complete the enrollment process (specifically linking your bank account through Plaid), your account cannot be verified and activated and you will be given a full refund.