For how many months does NACA verify rental payment history?

NACA verifies rental payment history for the last 12 months as part of the mortgage application process. This verification is essential because it helps assess the applicant's ability to make timely payments on a mortgage. A solid rental payment history demonstrates financial responsibility and reliability, which are crucial indicators for lenders in evaluating the borrower's creditworthiness. By focusing on the last 12 months, NACA ensures that they have a recent and relevant picture of the applicant’s payment behavior while allowing for sufficient time to identify trends in timely payments versus late or missed payments. This timeframe strikes a balance, capturing enough data to make an informed decision while still reflecting the applicant's current financial habits.