Don’t Pay for Their Mistakes Reviewing and Correcting Your Credit An important early step in purchasing a home is to get a lenders “pre-approval” for financing. Then youll know how much home you can afford before stepping foot into an “Open House.” Youll also make a strong impression on sellers, because theyll know that your offer is solid. Another step to take before you talk to the lender about preapproval is to get copies of your credit report and review them thoroughly. Smart consumers shop around for the best prices, and you want the best interest rate possible. If your credit report contains errors, you jeopardize your chances for the best rate. Lenders review reports from Equifax, TransUnion and Experian - and you should, too. Interest rate tiers are based on your credit score - the higher your score, the lower the rate. The lower the rate, the more home you can afford! Get a copy of your credit report several months before you start looking at homes. Creditors usually have thirty days to correct errors, but give yourself some wiggle room. Verify that the debts are correct and belong to YOU (not someone else at the same address or with the same name). Youll be amazed how many doors open for you with a clean credit report and low interest rates. For a free copy of your credit report try annualcreditreport. Good luck!!
Posted on: Thu, 05 Jun 2014 20:34:15 +0000
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