Want to Buy a Home? What You Don't Know Could Handcuff You

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Want to Buy a Home? What You Don't Know Could Handcuff You

Jan, 10th 2017

Research shows that people who plan carefully for big purchases, like owning a home, are less likely to run into financial trouble later. So if you are thinking about buying a home this year, let’s make a plan. The first step: Check your credit. 

It’s always a good idea to review your credit reports and scores periodically, even if you’re years away from shopping for a home and a mortgage. If you’re planning to buy a home this year, we recommend checking your credit reports and scores as soon as possible. 

The better your credit history, the more likely you are to receive a good interest rate on your mortgage loan. Lenders will use your credit reports and scores as important factors in determining whether you qualify for a loan, and what interest rate to offer you.  If there are errors on your credit report, you may have trouble qualifying for a loan.  So, don’t delay in checking your credit.  Review your credit reports and take steps to fix any errors.

It’s the first step to building a strong financial foundation for your new home.

Keep reading to:

  1. Learn the difference between a credit report and a credit score 
  2. Download a checklist to help you review your credit report for errors and submit a dispute to correct any inaccurate information
  3. Understand how credit scores are calculated
Read More

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