Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible for incorrect information to be reported on your credit report, and it is important to identify any issues and correct them before you apply for a mortgage.
What makes up your credit report?
Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.
What is reported?
A few of the items reported on your credit may include:
- Credit Cards
- Department store cards
- Gas cards
- Bank cards
- Airline cards
- Installment Loans
- Mortgage loans
- Auto loans
- Student loans
- Rent (sometimes)
- Collections or judgements
What does your credit history look like?
Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.
Producing Branch Manager // NMLS #65084
Tom has been in the finance industry for 22 years and can assist in the loan process for most of the 50 states. He is a wonderful husband to his wife, Kathy, and proud father to Jake and Ava. In his spare time, he enjoys watching College and Professional football rooting for Notre Dame and The Raiders.
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