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A2Z encourages you to obtain a copy of your credit report prior to applying for a loan to ensure the information is accurate. We feel you should pull your report every 6 months to ensure accuracy. In the following section you will be informed on how and when to request your reports, and the advantages and disadvantages of multiple entities pulling your credit reports.
Your lender will request a copy of your credit report for the purpose of pre-qualification for your mortgage. He wants you to see what your credit looks like and begin clearing up any errors that you may discover.
Now that you have received your report, how do you begin to decipher all the abbreviations, numbers and terms you see? Charge offs, account review inquiries and trade lines…what does it all mean?
There are three credit reporting agencies in the United States. They are TransUnion, Equifax, and Experian. Thanks to the new federal law, you will now be entitled to 1 free credit report from each of these major reporting agencies each twelve month period.
These reports have to be requested, they will not be sent out to you automatically. They can be ordered 3 ways. You can go to http://www.annualcreditreport.com, the only authorized source for consumers to access their credit report online for free. You can also call (877) 322-8228 or you may complete a form on back of the Annual Credit Report Request brochure. When finished, mail it to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA, 30348-528.1. You are able to order all 3 reports at different times throughout the year, or all at once. Just be sure to order from 1 centralized agency. If you were to order directly from the reporting agencies, you would be charged unless you fit a certain criteria for a free report.
If you feel the need to review your credit reports more often, you can order directly from the agencies via their websites, by telephone or by mail. Your cost will vary from state to state, but in most states the cost may be as much as $9.95 per report. Be aware that all 3 agencies will allow you to view your reports online.
Here are some additional websites you may want to visit to view examples of credit reports and/or order reports here:
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