Learn What is On Your Credit Report

Real Estate Agent with Keller Williams Real Estate RS151669

Anyone who has ever had a bank account, mortgage, credit card, car loan, or account with a retail store will invariably have a credit rating.  Most information in your credit rating comes from companies you have credit with, as well as from certain public records such as tax liens, bankruptcies, judgments and lawsuits.  It is important to know and understand your credit rating, how the information is compiled, and how it affects your ability to acquire a loan for your new home.

Credit reports are usually divided into five sections:

1. Your credit history.

2. Who has reviewed your credit history.

3. Information you have provided for the credit company.

4. Specific identification information about you.

5. Explanatory notes and comments.

Different states have different requirements and it is important that you check on what applies to you.  There are three major credit-reporting agencies, Trans Union, Experian and Equifax.

Your REALTOR can recommend a reputable mortgage lender who has the reputation of providing excellent service and good rates.  This lender will be able to immediately pull your credit report for your review and can make recommendations of how to make it better.  The better your credit score, the higher your credit rating will be.

Choose your agent wisely.  Working with a full-time professional real estate agent is a must. Ask questions of your agent.  Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold.  Can your agent recommend a good lender that has the reputation of excellent customer service and low rates?  Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

To learn more about what I can do for you visit me, Carol Swain at www.swainsells.com . Also check out current homes for sale in Bucks County, Pa and surrounding areas. 


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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Carol, This is so important and so overlooked by most people today. Thank-you...

Oct 31, 2008 04:35 AM #1
Michele Reneau
Certified Staging Professional (CSP) Elite Instructor - Summerville, SC
Realtor, GRI ~ Charleston, SC Relocation Experts Team

Carol-You can go to annualcreditreport.com to get the federally mandated FREE credit report once a year from all 3 bureaus, Experian, Equifax and TransUnion.  I always check mine on my birthday just to get in the habit of doing it each year.

Nov 01, 2008 12:59 PM #2
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Carol Swain

Realtor, -www.swainsells.com- Bucks County, Pa
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