Maverick's Mortgage Map

     When considering a new mortgage, it only makes sense that you review the same credit report that the bank/lender will use once you apply. There are three main credit reporting agencies which the majority of home lenders pull credit from when you apply for a mortgage, both when buying and refinancing. FICO® scores based on reports may vary between the three, but your middle score of the three is typically used when qualifying for a mortgage.           The term FICO® scores and Credit Reports are interesting, read on if your curiosity is strong right now, or skip to the next section to continue. FICO (Fair Isaac Corporation) was founded in 1956 by an engineer and mathematician. At this time credit cards were gaining popularity, and the credit limit to offer somebody became increasingly difficult to determine, especially if the one applying was in a different geographical region. Think about this, befor...

As one of the three pillars of your mortgage application, it is essential to know your credit situation if you plan on buying a home. Anybody can benefit from taking a look at their credit report and seeing what can be improved. I'll let you know how you can get a credit score report from the same credit agencies which most home lenders pull credit from. For more information on why getting a credit report from the right company is important, check out my post Which Credit Report is Used when Applying for a Mortgage . It's important to read the details in my line of work, and the details are often where the buried treasure lies. At the very end of a credit report, the Consumer Financial Protection Bureau tells us how anybody can get free credit report each year. It’s one of those, can’t get a free credit report because I don’t know how, because I can’t get a free credit report… Here it is: In text: “Under ...