You know that lenders evaluate your credit reports and scores before approving you – or determining your interest rate. But did you know your credit reports also drive the cost of your insurance premiums?
Knowing where you stand with all three credit bureaus before you start house hunting is key. If your credit scores aren’t “move-in ready,” getting them in shape will help you get a lower interest rate – and afford you more home.
If you haven’t done a thorough inspection of your credit in a while, you should dust off your credit reports and take a fresh look at your credit scores. Here’s a spring “credit-do” list to help you get started.
While most people are not “fluent” in credit, your lenders are. To make informed credit decisions, you need to be able to decipher what’s on your reports and understand what your credit scores are telling lenders about you – and why.