Free Credit Reports
Lender will not provide you a mortgage without looking at your credit score. Most people have no idea what their score is, or where to get actual free reports. The Federal Trade Commission approved a rule that gives consumers the right to a free copy of their credit report every year from each of the three major credit reporting agencies, TransUnion, Experian & Equifax. You can get your reports free at AnnualCreditReport.com, the official bureau site.
What is a good credit score?
A credit score above 620 is good, while consumers below 620 will have a tougher time receiving a mortgage. The median FICO score in the U.S. is 723. The better your credit, the better your interests rates. Be sure to look your credit reports over thoroughly. You have the right to protect your credit by having errors removed.
