When you’re ready to buy a home, prospective lenders will take a hard look at your credit score. Many factors can affect your score, including errors. Checking for mistakes is one of the most important tips for getting a mortgage.
Be Proactive
Don’t wait for a lender to tell you that your credit score is too low; check it out today. Look for mistakes such as erroneous accounts or even problems with your contact information. You can obtain a free copy of your report each year. If you dispute something on the report, contact the credit bureaus. Fixing these errors could bump your score to a level where the lender may approve your loan.
Keep an eye out for credit report errors. Repairing these is a critical part of the mortgage approval process.
