All too often I am approached by a prospective home buyer who asks to look at a home they have fallen in love with only to have them end up in the situation where they can't get the home. The culprit....the dreaded credit report!!
The first step that a buyer should take when beginning the search for a home, before they talk to a Realtor, before they talk to a lender, even before they think of pulling up CENTURY21.com or Realtor.com, they should pull up their credit report. Consumers have the ability to pull up a free credit report online through sites such as FreeCreditReport.com and should do just that.
I recently read that over 70% of consumers reported that they have found errors in their credit report, with 25% of them being serious enough to either deny the consumer credit or significantly delay the process. With over 54 billion credit updates annually, it is very likely that you may have an error on your credit that you are not aware of. Many times these errors are negatively impacting your credit in such a manner as to deny your ability to get credit or to cause you to pay excessive interest expenses.
All consumers should routinely pull their credit reports to look for errors and have them correctly immediately. They need to be proactive in protecting their credit and become educated and understand how credit works. When a questionable activity is identified, it needs to be correctly immediately. Usually the first step in doing so is to notify the applicable credit reporting bureau.
If you are wanting to buy a home, do this and then call me to help you find that perfect home. If you have questions regarding your credit, contact me and I will help you answer them.