There are a number of steps to getting mortgage financing. A particularly important step - and one many people don't give much thought to is the credit check. As a routine part of the application process the lender will order a copy of your credit history.

Your personal credit history is compiled by credit bureaus that collect information from various sources including banks, retailers, and other public records, creating a credit report. Information such as what credit and debit cards you have, the types of accounts you have at various financial institutions, information about personal loans, mortgages, student loans, etc., is all part of the report. The report shows the creditors' names, account numbers, the date accounts were started, the current balance, as well as a detailed payment history (for example, how many times you were over 30, 60, or 90 days late in paying bills). Generally, credit reports show information going back six to seven years.

Because the report contains information about you, you have a right to inspect a copy of it. Equifax, one of Canada's largest credit bureaus, will mail consumers a free copy of their personal credit file upon request. The request can be made by mail, fax, or online. Certain information must be supplied with the request. For more information, call Equifax at 1 800 465‑7166, or visit the website: http://www.equifax.com/EFX_Canada/.