Step 1 of 6: Know Your Credit
Never has your credit been more important than today. The credit tiers have gotten smaller and scores have gotten even higher to be in the supreme lending category. Your credit score could very well affect the size house you can afford or will qualify for. There are what we call “credit hits” or loan level price adjustments to your rate according to your credit score. Before you prepare to buy a house you need to know your trimerge mortgage credit report score. There is not a consumer credit report score that you can get for free from many of those “free credit score” companies.
There is a difference.
Do those help you know whether you have late payments and judgments? Yes.
But the score you receive from those will normally be a little higher than the trimerge mortgage report a mortgage lender would use. So the first step in preparing to buy a house is to know your credit.