Get Your FREE Annual Credit Reports
Date: February 2, 2023
Unless you are prepared to make an all-cash offer, the first step in the home buying process is often checking your credit reports.
What is a credit report? A credit report is a statement containing information about an individual’s credit status and credit history. Lenders use credit reports to help determine whether an applicant is a good credit risk and likely to make timely loan payments.
Credit reporting agencies, also known as credit bureaus, collect information from various sources to generate credit reports. The three major credit bureaus in the U.S. are: Equifax, Experian and TransUnion.
You have a right to see your credit report. The Fair Credit Reporting Act (FCRA) requires each credit bureau to provide consumers with a free credit report once a year, upon request.
Due to COVID-19 and increased scams, you are entitled to a free copy of your credit reports once a week through December 2023.
Before seeking financing of any type, especially a major purchase such as a home, obtaining a current copy of your credit reports is advisable. If you plan to buy a home this year, be sure to check all three of your credit reports as soon as possible.
How do I obtain my free credit reports? If you have Internet access, you can visit the website AnnualCreditReport.com – the only source for free credit reports authorized by federal law. Avoid scam websites by typing the web address above into your web browser’s address bar. Do not “Google” it.
You can submit a request in writing using the Annual Credit Report Request Form. Copies of this form are available in our office. Stop in during business hours, Monday-Friday, 8:30 am-4:30 pm, to pick up a copy. We’ll even give you a free pen to fill it out!
To submit a request by phone, call 1-877-322-8228.
Once you receive your credit reports, check to see if all information is accurate. You have the right to have any inaccurate information corrected or removed.
Credit Report vs. Credit Score, what’s the difference? A credit report is a statement containing information about your credit history. A credit score is a three-digit number ranging from 300-850 calculated using the information in your credit report as a measure of your creditworthiness. Your free credit reports do not include a credit score.