Does the Credit Score Matter?
YES! Credit score matters when you’re buying a home! The lenders will use your credit scores to decide whether they’re willing to lend to you and at what interest rate.
Your credit report tells potential lenders how responsible you’ve been with credit in the past. Lenders can legally request this document to assess how risky it is to lend to you.
You can request a free copy of your credit report from each of three major credit reporting agencies:
- Equifax®
- Experian®
- TransUnion®
Once each year visit www.AnnualCreditReport.com or call toll-free 1-877-322-8228.
It’s smart to request a credit report from each of the three credit reporting agencies and to review them carefully, as each one may contain inconsistent information or inaccuracies. If you spot an error, request a dispute form from the agency within 30 days of receiving your report.
Your credit score is a number, ranging from 300 to 850.
What Is a Good FICO Score?
