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About 79% of credit reports contain errors – and 25% of credit reports have errors serious enough to result in your credit application being rejected, according to the PIRG data. The experience showed us how important it is to check your credit score and credit report early on in the home search process so that you can address any errors or make improvements. This was the first time either of us had pulled our scores and reports and really looked at them closely. There’s definitely a feeling of nervousness that takes over when you’re waiting for your loan officer to show you your score and report; it’s almost canada free credit report Charlotte like getting the results back on a test you aren’t so sure you canada free credit report Charlotte studied enough for. Your credit report gives lenders an overview of your credit history. It lists the types of credit you use, how long you’ve been using them, if you stay current with your bills, and plenty of other canada free credit report Charlotte information.

Your credit score is a number that is generated from the information in your report and basically tells a lender how much of a risk you are with repaying debt. As canada free credit report Charlotte a borrower, you want to make sure you’ve got the highest credit score possible so that you can get the best mortgage rates and so that you also know how much house you can afford. free credit report online now

In addition to the identity theft issue my husband faced, canada free credit report Charlotte we also found out about the automatic car payment error and how it canada free credit report Charlotte affected Matt’s score. The payment failed to go through one month, and Toyota reported it to the credit bureaus, even though Matt  made the payment as soon as he realized what had happened. In addition to that, found out much later, when we were about to close on our house, that my credit report reflected an incorrect date of separation from my graduate program, which impacted our debt-to-income ratio, another factor lenders use to determine your loan amount. The good news is that we were able to raise the amount we were pre-qualified for over time by addressing and fixing the errors on our reports.

We were initially pre-qualified for a loan in the low $100,000s, but over the canada free credit report Charlotte course of about six months we canada free credit report Charlotte improved our credit enough to qualify for a larger loan. free credit report score Dealing with your credit can be frustrating, but it’s worth canada free credit report Charlotte it if you want to get the loan you’re expecting. Some things you can do to raise your score: Kristin Offiler is a freelance writer who recently completed a Master of Fine canada free credit report Charlotte Arts in Creative Writing. She lives happily in her new home in the Northeast with her husband and dog.

A HomeBuyers Story (Part 1): Deciding When to Buy A HomeBuyers Story (Part 2): Saving Money for a Home A HomeBuyers Story (Part 3): Getting Pre-Approved for a Loan Learn more about the canada free credit report Charlotte importance of credit scores and credit reports, and how you can get canada free credit report Charlotte yours in order in this Credit Advice section on the LendingTree web site. Keywords: Buying a Home, credit, credit score, personal finance from a person who signed up for multiple credit cards in college to get a free pair of oakleys and former debt collector: in terms of overall credit score, its better to pay off credit cards in installments rather than lump sum payment. after paying off the balance in full, cut the card but do not close the account. closing multiple credit accounts could negatively affect your score. free instant credit report also canada free credit report Charlotte realize the three big credit reporting agencies (equifax, transunion, and experian) do not cross talk with each other about accounts which could impact what your actual score should be. before making financial decisions that require a long term financial commitment (car, house, etc) people should check their credit reports annually to ensure all information is correct and up-to-date.