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Keep an Eye on Your Credit Report

By
Real Estate Agent with Allen Tate

Do you plan on financing your next home?  A good way to start planning for that now is to check your credit report before you start looking for a new home.

Lenders who provide mortgage loans must adhere to the appropriate rules and regulations in order to approve their loans.  Some of the guidelines a lender looks at are debt-to-income ratios, payment history and employment. 

When applying for a mortgage loan one of the first things a lender will do is obtain your credit report through one of the three credit reporting agencies.  You can do this as well so that you are informed about what your credit report says about you. Check your report carefully to ensure it is accurate and correct any errors as soon as you find them.

The time to correct inaccuracies is before you apply for a mortgage loan.  Then when you apply for a mortgage loan you will feel comfortable that the lender has complete, correct and accurate information upon which to base your loan approval.

Comments (4)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi TH!  SOUND advice for, not only your clients but, everyone!  We want them to be READY when they're really ready for a new home!

Debe in Charlotte

Dec 05, 2008 07:14 AM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Hi  TH this is good advice especially in today's climate.  The best time to make correction to ones credit is before needing to apply for it.

Thanks for stopping by my blog.

Dec 10, 2008 12:32 AM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Allen, Good info -we can remind people to get their free  Annual Credit Report at this site from all 3 of the major credit reporting agencies.  Good post!

Dec 13, 2008 09:18 AM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

A good time to remind people. Lets hope they don't go too crazy over the spending season.

Dec 16, 2008 12:35 PM