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.
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