I can’t tell my clients this enough – check your credit score regularly. Your credit score is partially derived from the information on your credit report, and it is one factor that a mortgage lender will use in determining whether you qualify for financing.
While it’s pretty easy to check your credit score, we sometimes get lazy about doing it.
I was working with a client recently who knew their credit score and didn’t think it allowed them to qualify for a home loan. I encouraged them to go ahead and pull the full credit reports and review them.
In doing that they found a number of issues in their credit history that did not originate with them. This happens sometimes, and it’s one of the reasons you need to check your credit report, not just your credit score.
They were able to work with Credit Counseling of Arkansas to get the discrepancies removed from their credit history. This resulted in an dramatic improvement in their credit score.