Delaware rent payments added to credit reporting with new pilot program

DELAWARE – If you’re a renter in Delaware, your payments could now help you strengthen your credit history. The new Tenant Rent-Reporting Pilot Program is now in full service.

With $200,000 in funding from the American Rescue Plan Act, the program pays up to 12 months of rent reporting to major credit bureaus. Both the Delaware State Housing Authority and Neighborgood Partners are spearheading the program.

DSHA says late payments or even an eviction negatively impacts your credit, but there’s no reward for paying on time.

Now with the funding available, the housing authority is encouraging Delawareans who qualify to apply. “So far we already have 40 tenants participating but our goal and our budget will allow us to help up to 400. We’re very proud that we’re pioneering this type of program,” Delaware State Housing Authority’s Caitlin Del Collo said.

Depending on funding, the program is expected to remain open until 2024.

The program is also in line with changes being seen on the federal level with mortgage loan company Fannie Mae updating its underwriting process to allow rent payments to be considered.

To find out if you qualify, click here