Credit reporting agencies Seattle

Turns out we aren’t alone in facing these kinds of credit errors. Public Interest Research Groups, a consortium of advocacy groups, reports that 22% of credit reports list the same loan more than once. About 79% of credit reports contain errors – and 25% of credit reports have errors serious enough to result in your credit application being rejected, according to the PIRG data. The experience showed us how important it is to check your credit score and credit report early on in the home search process so that you can address any errors or make credit reporting agencies Seattle improvements. This was the first time either of us had pulled our scores and reports and really looked at them closely. There’s definitely a feeling of nervousness that takes over when you’re waiting for your loan officer to show you your score and report; it’s almost like getting the results back on a test you aren’t so sure you studied enough for. Your credit report gives lenders an overview of your credit history.

It lists the types of credit you use, how long you’ve been using them, if you stay current with your bills, and plenty of other information. Your credit score is a number that is generated from the credit reporting agencies Seattle information in your report and basically tells a lender how much of a risk you are with repaying debt. 3 credit scores free As credit reporting agencies Seattle a borrower, you want to make sure you’ve got the highest credit score credit reporting agencies Seattle possible so that you can get the best mortgage rates and so that credit reporting agencies Seattle you also know how much house credit reporting agencies Seattle you can afford. In addition to the identity theft issue my husband faced, we also found out about the automatic car payment error and how it affected Matt’s score. The payment failed to go through one month, and Toyota reported it to the credit bureaus, even though Matt  made the payment as soon as he realized what had happened. In addition to that, found out much later, when we were about to close on our house, that my credit report reflected an incorrect date of separation from my graduate program, which credit reporting agencies Seattle impacted our debt-to-income ratio, another factor lenders use to determine your loan amount. true credit The good news is that we were able to raise the amount we were pre-qualified for over time by addressing and fixing the errors on our reports. We were initially credit reporting agencies Seattle pre-qualified for a loan in the low $100,000s, but over the course credit reporting agencies Seattle of about six months we improved our credit enough to qualify for a larger loan. Dealing with your credit can credit reporting agencies Seattle be frustrating, but it’s worth it if you want to get the loan credit reporting agencies Seattle you’re expecting.

Some things you can do to raise your score: Kristin Offiler is a freelance writer who recently completed a Master of Fine Arts in Creative Writing. She lives happily in her new home in the Northeast with her husband and dog. A HomeBuyers Story (Part 1): Deciding When to Buy A HomeBuyers Story (Part 2): Saving Money for a Home A HomeBuyers Story (Part 3): Getting Pre-Approved for a Loan Learn more about the importance of credit scores and credit reports, and how you can get yours in order credit reporting agencies Seattle in this Credit Advice section on credit reporting agencies Seattle the LendingTree web site.

Keywords: Buying a Home, credit, credit score, personal finance from a person who signed up for multiple credit cards in college to get a free pair of oakleys and former debt collector: in terms of overall credit score, its better to pay off credit cards in installments rather credit reporting agencies Seattle than lump sum payment. monitor credit report after paying off the balance in full, cut the card but do not close the account. closing multiple credit accounts could negatively affect your score. also realize the three big credit reporting agencies (equifax, transunion, and experian) do not cross talk with credit reporting agencies Seattle each other about accounts which could impact what your actual score should be.