Home Page About Us Loan Officers Apply Online Calculators Custom Quote Products Resource Center Rate Watch Contact Us	It is always a good idea to obtain a copy of your credit report before applying for a home loan. By doing this, you can correct any errors on your credit profile in advance, establish credit, if necessary, or start repairing your credit file if you have had problems in the past. Lenders look very carefully at your credit as an indicator of your willingness to repay your loan. Having poor credit, little or no established credit or unresolved disputes with creditors can affect your purchasing power and your ability to get a loan. To avoid unpleasant surprises down the road, you can request a copy of your credit report for a small fee by writing to any one of the following credit bureaus: Equifax Equifax Credit Information Services P.O. Box 105873 Atlanta, GA 30348 Trans Union P.O. Box 1000 Chester, PA 19022 Experian P.O. Box 2104 Allen, TX 75013-0949 When you receive your report, check the following items: Incorrect entries It is possible that accounts which are not yours will be listed under your name or that late payments are recorded which were really made on time. You can have such data corrected by writing to each credit bureau and requesting that the information be deleted. They will contact the creditor, who must respond within 30 days. If the creditor does not respond, the item will be removed and a new credit report will be issued to you. If there is still a dispute, you can add up to a 100-word statement to your file explaining your side of the story. Outdated negative credit If there are unfavorable credit items older than 7 years showing on your report, follow the procedure outlined above. Bankruptcies can be removed after 10 years. Current negative credit If you have current credit problems, the time to resolve them is before you buy a house. Re-establishing good credit after a bankruptcy or other credit problems is very important. Having an established credit history is also important as lenders want to see a track record of debts owed that have been repaid. If you haven't already done so, apply for a credit card and use it to establish a credit history by documenting your monthly payments and your monthly payments to utility companies. Be careful not to accumulate too many credit cards, however, as this can be considered risky, as well.
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