Credit check Reno

Check Your Credit Report Before Applying for a Mortgage I don't share many personal credit check Reno financial stories on this website. My wife and I recently checked our credit reports because we are planning buy a home soon. We found some items on her report that should not have been there, and it was hurting her credit score. This story shows why you should always check your credit reports several months before applying for a mortgage loan. We have dozens of articles on this website that explain where your credit reports come from, what information it includes, etc. But I do want to give you a quick primer on how the credit-reporting industry works. If you have ever taken out a loan or signed up for a credit card, you should have a credit history. For most people, this history begins when credit check Reno they apply for their first credit check Reno loan or credit card. From this point forward, many of your credit check Reno financial activities will be added to your credit history. free fraud protection These histories are referred to as credit reports, and you actually have three credit check Reno of them. There are three credit-reporting companies that operate in the credit check Reno United States. These are entirely separate companies, and they maintain unique data. So your credit reports might vary slightly from one company to the next. There are different types of scores, but the one you should be most credit check Reno concerned about is your FICO credit credit check Reno score. When you apply for a mortgage loan, the lender will use this score to determine the level of risk you bring the table. They will consider other aspects of your financial background as well. on credit report But the FICO credit score is at the top of the list. It can make or break your chances of getting approved for the loan. It also influences the interest rate you get from the lender. This is why it's so important to check your credit reports before applying for a mortgage loan.

If you missed the connection between these two things, here it is again... Credit reports contain information about your repayment of debts. This information is used to produce a FICO score that ranges between 300 and 850. You have three scores -- one for each of the credit check Reno reporting companies mentioned above.

Mortgage lenders will use these scores when considering you for a loan. A low score can hurt your chances of getting approved for the loan, and it may cause the lender to assign a higher interest rate as well.

With that introduction out of the way, let me get back to credit check Reno the personal story I promised to share. This story illustrates why credit check Reno it's so important to check your credit reports before buying a home. credit report and score for free

My wife and I credit check Reno have been through the home-buying process several times in the past, so we are very familiar with it. We realize the importance of keeping a clean credit history. So we checked our credit reports and scores before getting pre-approved for a mortgage loan. Sometimes you can have negative items on your credit report that you never even knew existed. We checked all three of our reports through AnnualCreditReport.com, which is the website I recommend using. I recommend this website because it is the only one that is regulated by the federal government.