Check Your Credit Before You Start Your Home Search

Review Your CreditIn anticipation of buying a house, you will need to check your credit with all three of the credit reporting agencies: Equifax, Experian, and TransUnion. While most of the information should be the same, there are often discrepancies between the reports.

AnnualCreditReport.com is the only source for free credit reports authorized by the federal government. Every 12 months, you can get a free copy of your credit report from each agency.

Your credit report has your credit history for all of your credit accounts as well as any credit inquiries and public record court information such as collections. In addition, the report provides personally identifiable information such as your name, address, and employment.

Be sure to carefully review all three reports to identify any problem areas that you may need to clean up prior to applying for a mortgage. If there is any incorrect information, follow the reporting agency’s rules to correct it or add a notation to the report to explain the situation.

Your FICO Score is a score combines data from several areas include payment history, the amount owed, length of credit history, new accounts.  Many lenders use this score as a guide.  This score is not provided as part of the free annual credit report.

Learn more about how your credit score impacts your ability to secure a loan.

At Arthur State Bank, our mortgage loan officers are available to guide you every step of the way with mortgage information personalized for your situation.

This is just the first step in the First Time Home Buyer’s Road Map.  Be sure to review the entire road map.

Request Mortgage Information