Surprises can be fun, but not when they’re related to your credit. If you’re applying for a mortgage loan, a lender will pull your credit report—do you know what he or she will find?
Make sure there aren’t any surprises on your credit report by checking it periodically.
What’s in the report?
A credit report is an organized list of the information in your credit file, such as
A credit report is not the same as a credit score. That’s the three-digit number that’s derived in part from your credit report. If you want your credit score, you typically have to purchase that information.
How much does it cost?
Each of the three national credit-reporting companies—Equifax, Experian, and TransUnion—is required by law to provide you with a free copy of your credit report once a year at your request.
When can I request them?
How many reports you request and when you make those requests is up to you. If you’re just checking your credit periodically, spacing them out can help you monitor any changes. If you know you’ll be applying for a mortgage loan soon, you might choose to get all three at the same time. Comparing all three can help you look for errors or address problems.
Where do I get the reports?
Go to www.annualcreditreport.com. This is the only website authorized by the federal government to provide the reports you’re entitled to receive. You’ll be required to provide some personal information to confirm your identity.
Monitor your credit report to ensure that there aren’t any surprises when you apply for a mortgage loan. It’s a free process that only takes a few minutes.