credit report Archives - Special Agents Realty Life Is Better When You Own It™ Mon, 27 Jun 2022 06:57:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 https://idx.specialagentsrealty.com/wp-content/uploads/2020/12/cropped-faci-site-32x32.jpg credit report Archives - Special Agents Realty 32 32 Your Access to Free Credit Reports https://idx.specialagentsrealty.com/access-free-credit-reports/ https://idx.specialagentsrealty.com/access-free-credit-reports/#respond Tue, 15 Jan 2013 22:59:21 +0000 http://www.www.specialagentsrealty.com/?p=1753 The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies: Equifax, Experian, and TransUnion to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies. The […]

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]]> The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies: Equifax, Experian, and TransUnion to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA with respect to consumer reporting companies.

This web link will answer many of your questions, provide additional links to order your free anual credit report, how to correct inacuracies or missing information on your credit report.

http://www.consumer.ftc.gov/articles/0155-free-credit-reports

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]]> https://idx.specialagentsrealty.com/access-free-credit-reports/feed/ 0 1753 Getting a Legitimate Lender and Getting Pre-Approved https://idx.specialagentsrealty.com/getting-a-legitimate-lender-and-getting-pre-approved/ https://idx.specialagentsrealty.com/getting-a-legitimate-lender-and-getting-pre-approved/#respond Tue, 27 Oct 2009 21:49:16 +0000 http://www.www.specialagentsrealty.com/?p=30 Getting a Legitimate Lender and Getting Pre-Approved It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home. Most lenders can pre-qualify […]

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]]> Getting a Legitimate Lender and Getting Pre-Approved

It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.

In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.

Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.

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