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 free online credit check Iowa your repayment of debts. This information is used to produce free online credit check Iowa a FICO score that ranges between 300 and 850. You have three scores -- one for each of the reporting companies mentioned above. Mortgage lenders will use these scores when considering you for a loan. legitimate free credit report A low score can hurt your chances of getting approved for the loan, and it may cause the lender to assign a higher free online credit check Iowa interest rate as well. With that introduction out of the way, let me get back to the personal story I promised to share. This story illustrates why it's so important to check your credit reports before buying a home. My wife and I have been through the home-buying process several times in the past, so we are very familiar with it. credit reference 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. This is free online credit check Iowa the official website for obtaining your free credit reports from all three reporting companies. If you go anywhere else, they will probably try to sell you some kind of credit-monitoring or identity-theft protection service. entitled to free credit report If you only want to check your credit reports, you should do it through the website mentioned above. When I checked my reports, I was happy to find that there were no negative items on any of them.
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