Mortgage Preparation
Credit Report Preparation Before Buying a House
Before applying for a mortgage, consumers can review credit reports, check balances, gather documents and correct information they believe is inaccurate, incomplete or not theirs. The timing and size of any credit score change varies by credit file and scoring model.
Preparation Checklist
- Pull reports from all three major bureaus.
- Confirm open accounts, balances and payment status.
- Collect documents for any item that may be inaccurate.
- Avoid new credit applications unless necessary.
- Ask lenders for current underwriting requirements before assuming eligibility.
