How to access your free credit report
Thinking about homeownership? One of the first steps to make is to check your credit report as soon as possible and correct any errors. Your credit report and credit score will affect the interest rate you pay on your mortgage loan and the better your credit history, the more likely you are to get a lower interest rate.
So step one, request your credit report and then review it carefully for errors that need to be corrected.
How to get a copy of my credit report
Your credit report list the history of your finances, including loans, current debts, bill payment history, etc. By law, you can get a free credit report once each year from the three credit reporting agencies – Equifax, Experian and TransUnion.
You do not need to contact the three credit bureaus individually. The best way to order a copy of your free annual credit report is to use AnnualCreditReport.com services: this is the only website authorized by the federal government to issue free, annual credit reports.
1) Submit your request on AnnualCreditReport.com, https://www.annualcreditreport.com/requestReport/landingPage.action
Or 2) call to make your request (877) 322-8228
You can request all three reports at once or, if you want to monitor your credit throughout the year for example, you can order one every 4 months.
What information do I have to give to get my free credit report?
To keep your account and information secure, be prepared to verify your identity. You will be asked for your name, address, Social Security number, and date of birth. You may also be asked for your previous address if you’ve moved recently. They’ll ask you some questions that only you would know, like the amount of your monthly mortgage payment.
Avoid Scams – Do not use other sites or services offering free credit reports. AnnualCreditReport.com is the only authorized site to use to access your annual credit report.
Why doesn’t my credit report include my credit score?
Your credit report and your credit score are not the same thing. Your credit score is calculated using a formula and then used to determine how likely you are to pay your bills in the future, based on the information in your credit report. When you order a free credit report, it may not include your credit score. However, there are several ways to get your credit score for free.
Experian, Equifax and TransUnion are the main 3 credit bureaus. They all offer the option to setup a free account where you can order your credit report as well as freeze your credit when you are not using it.
Experian also includes your credit score.
Also, many major credit card companies now provide monthly access to credit scores for their customers. NOTE: applying for a new credit card is NOT recommended during the home buying process!
Non-profit credit counselors and HUD-approved housing counselors can often provide with you with your credit score.
FAQ’s
How do I get a copy of my credit reports?
You can request your free report on the AnnualCreditReport.com website or by calling (877) 322-8228
Is AnnualCreditReport com a legitimate site?
You have a right to access your annual credit report, this right is guaranteed by Federal law. AnnualCreditReport.com is the official site to get your free annual credit reports. Don’t be fooled by look-alike sites. You can verify that this is the official site by visiting the Consumer Financial Protection Bureau website: https://www.consumerfinance.gov/ or https://www.usa.gov/credit-reports
Does checking my own credit lower my score?
Checking your own credit report is not an inquiry about new credit, so it does not affect your credit score.
What information is on your credit report?
Credit reports show your personal financial data including: loans, current debt, bankruptcy and bill payment history.
Why should I check my credit report?
Regularly checking your credit report lets you see what lenders see when you are applying for a loan. It helps you understand your current credit score and also lets you check to make sure the information is correct.
What are the biggest advantages of a good credit score?
When you have a good credit score, you’ll get better rates on car and home insurance, it’s easier to rent an apartment, it’s cheaper to borrow money, plus you can access credit cards with the best rewards.
What is the best way to improve my credit score?
Paying your bills on time. Having a history of on time payments is one of the biggest factors that determine your credit score.
We recognize that buying a home is the single largest financial decision of most people’s lives. We also know that it is a complicated process. The Homebuyer Education Center is a resource for you!
See all of our free classes for homebuyers!
This site is presented by Habitat for Humanity of the St. Vrain Valley.