The information shown on your credit report has a huge impact on whether or not you qualify for a mortgage, and how high (or low) an interest rate you will be charged. That is why it is crucial that your credit report paints a positive picture of the manner in which you manage your money. If you’re getting ready to buy or refinance a home, checking your credit report is an absolute necessity to insure you get the loan and interest rate you deserve.



The best place to start if you want to see what’s in your credit report is to go to http://www.annualcreditreport.com. The federal Fair Credit Reporting Act (FCRA) now mandates that each credit bureau (Equifax, Experian,and TransUnion) provide you with one free copy of your credit report, at your request, once every year.





You should get all three reports if you are planning to buy or refinance a home soon, because the three agencies are independent of each other and the information may differ on each of the three reports. In addition, your potential lender will definitely use all three sources to check your credit, so it’s best to verify that all three have correct information about your credit history.



For additional fees, each agency may offer you different services, such as:



* A \"merged\" credit report that lets you see a side-by-side comparison of the information from all three agencies, with or without scores.



* Notification services that let you know when your credit history is requested.



* Notification of changes to your file.



* Subscriptions that allow you to access your report on a regular basis.



* Your credit score



Whether you are thinking of buying or refinancing a home or just curious about what’s in your credit report, it’s important to correct any errors you discover as soon as possible. You don’t want errors in your credit report affecting your eligibility for credit in the future.