WHAT YOU NEVER KNEW ABOUT YOUR CREDIT REPORT

Start your loan approval process sooner rather than later so you have time to address any questions or problems which might appear on your credit report.

Often the “big three” credit bureaus will report a different score to the public ….for example yourself….than the score that a lender will pull from their credit reporting service….

Why the difference???

That’s because there are different scoring modules created for different end uses…. Such as a mortgage loan or a vehicle loan.

Among the reasons that cause these discrepancies:

Any credit inquiry made over the past 120 days

Co-signed college student loans

Disputed accounts

Charge-offs

Remember that the sooner you start your loan approval process the sooner you can tackle any potential problems on your credit report

Next time we will suggest some solutions to “fix the problems” before they have the chance to delay your loan approval.