If a Member is buying the house they are renting, which is acceptable as proof of on-time rental payments?

The best choice for proving on-time rental payments when a member is buying the house they are renting is cancelled rent checks. This option is particularly effective because cancelled checks provide a direct record of payment, including the date the payment was made and confirmation that the funds were withdrawn from the member's bank account. This tangible evidence is typically accepted by lenders as reliable proof of consistent and timely rental history.

While a verification of rent form can verify rental payments, it relies on the landlord's information and may not always reflect 100% accuracy. Bank statements showing cash withdrawals do not specifically indicate that the withdrawals were for rent payments; they could have been for any purpose. Therefore, they may not serve as definitive evidence of on-time rent payments.

Overall, cancelled rent checks stand out as the most concrete and straightforward documentation that verifies on-time rental payments, making them the appropriate choice in this scenario.