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Emily Haigh's Blog

By Emily Haigh | Home Buyer in Ashburn, VA

Acquiring a Copy of Your Credit Report Before Home Buying

Checking your credit report can make the financing process of buying an Ashburn Real Estate property a lot easier. Long before you look for Ashburn Homes for Sale, you should already have a copy of your credit report to see if there are errors and outdated information to be corrected. Having less or no issues with your credit report can make you easily get a loan approval from the mortgage company.

Informing the credit reporting company as soon as possible if you see that there are mistakes in the report. There are three major credit-reporting companies in the country which are Experian, TransUnion and Equifax.  Write a dispute letter which thoroughly states all the wrong information you see in your credit report. Attach documents and evidences, as well, so you can strongly support your arguments. These documents help the reporting company to change the erroneous data quickly. The company should be able to reply to your letter within thirty days.    You also need to check your credit score which determines how credit-worthy you are for the lender to bestow you a home loan approval. Your score can range from 300 to 850. If you get a low credit score, it will be difficult for loan companies to approve your application because your score suggests that you have bad history when it comes to paying your bills and mortgages. If you check your credit report months before applying for a loan and if you find out that you have a low credit score early, it will give you enough time to improve your credit history that will be enough to increase your credit score.  Make sure that you have accurate credit history and you have a high credit worthiness score to get a faster loan approval.

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