The information in your credit report has a huge impact on whether or not you qualify for a mortgage loan and what interest rate a lender will offer. Therefore, it’s important your credit report reflects a positive image of the way you manage your money. If you're getting ready to buy a home, checking your credit report is the best way to ensure you get the loan and interest rate you deserve.

It is important that you get all three credit reports and scores prior to speaking to a lender or broker, including us.  Almost all loan officers will try to get your Social Security number which serves their interest of stopping you from shopping for the right professional to work with for your financing.  Too many credit inquires on your reports may damage your credit and you must be able to discuss your credit scores and history or no one can give you an accurate estimate of the available rates and fees.  Do you really want to give your Social Security number to multiple companies?  Get this information and if a loan officer won't speak with you based on your representaitons, move on and find one that will.  We will take the time to discuss your loan without demanding your Social Security number, that's one of our commitments to you.

The easiest way to see what’s in your credit report is to contact the three national credit reporting agencies – Equifax www.equifax.com, Experian www.experian.com and TransUnion www.transunion.com - and request a copy from each. The free products will not give you your credit scores and this is the information we need to give you an accurate estimate of the interest rates available to you.  All three of the credit reporting agencies will have a product you can purchase for approximately $45-50 that will include all three reports and all three FICO scores.  Your personal inquiry is called a soft pull and will not affect your credit scores.  Most lenders will use your mid-FICO score to determine the interest rate for which you qualify.  Don't get just one score, credit scores can vary greatly from one reporting agency to another.

If you've been denied credit, insurance, or employment because of information in your credit report from any of the three agencies, you can obtain a free credit report by contacting the agency within 60 days of receiving a denial notice. In addition, you're entitled to a free copy of your report each year when you certify in writing that (1) you're unemployed and looking for a job within 60 days, (2) you're currently on welfare, or (3) your report contains errors due to fraud.

You are entitled by federal law to one free credit report from each agency per year, but it will not include your FICO scores.  You can visit www.annualcreditreport.com to request all three free reports, but again this will not help us give you an accurate interest rate estimate.  This is the official site created by the credit reporting agencies to comply with the new federal laws.

Whether you are thinking of buying a home or simply curious about what’s in your credit report,  it’s important to correct any errors you discover as soon as possible.  You don’t want errors in your credit report  affecting your eligibility for credit in the future.