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Your First Step to Homeownership: Reviewing Your Credit Reports
Dated: June 23 2025
Views: 69
Before you apply for a mortgage loan, there’s one important step you shouldn’t skip: checking your credit reports.
Your credit history plays a major role in getting approved for a mortgage, and spotting errors early can save you time, money, and stress. Here’s what you need to know.
Get Your Free Credit Reports
Thanks to federal law, you can access your full credit history once a year—for free—at AnnualCreditReport.com. This is the only government-authorized site where all three major credit bureaus—Experian, TransUnion, and Equifax—are required to provide you with your reports.
When you download your reports, you’ll find information such as:
Your bill payment history
Active and past loans
Current debt amounts
Bankruptcy history
Lawsuits, liens, or judgments
Why It’s Important to Review All Three Reports
Not all bureaus have the same information. Lenders may report data to only one or two bureaus, so comparing all three is essential. In fact, 1 in 3 Americans finds at least one error on their credit reports that could impact their ability to get a loan or favorable interest rate.
Some common errors include:
Incorrect payment statuses
Accounts that don’t belong to you
Outdated personal details
Duplicate accounts
What to Do If You Spot an Error
Credit bureaus don’t communicate with each other or automatically fix mistakes. If you see an issue:
Contact the creditor or reporting agency directly.
File a dispute with the specific credit bureau showing the error.
Be prepared to submit documentation (e.g., proof of payment).
The dispute process can take up to 30 days, so start early.
Double-Check Your Personal Details
Before applying, take a few extra minutes to verify:
Your full name
Address
Social Security number
Employment information
Even a minor typo can lead to delays in your mortgage application or even a denial due to mismatched identity verification.
Final Tip: Don’t Wait Until You’re Ready to Apply
Checking your credit early gives you time to fix any issues and improve your score, putting you in a better position to qualify for a mortgage loan with the best possible terms.
Need help understanding your credit before applying? Reach out to a trusted mortgage advisor or connect with our team—we’re here to guide you every step of the way.
Alex Mabry
I am passionate about real estate! Growing up we moved around a lot, with a family of 7 my parents would find a diamond in the rough to transform into our family home, my allowance was earned helping ....
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REALTORS® Association of Northeast Wisconsin All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s), nor Berkshire Hathaway HomeServices Fox Cities Realty - Berkshire Hathaway Home Services, nor RANWMLS shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices Fox Cities Realty - Berkshire Hathaway Home Services may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 REALTORS Association of Northeast WI MLS, Inc. All rights reserved. Last Updated: September 20, 2026 11:42 PM UTC
REALTORS® Wisconsin Real Estate Exchange (WIREX). All information deemed reliable but not guaranteed. Information is supplied by seller and other third parties and has not been verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s), nor Berkshire Hathaway HomeServices Fox Cities Realty - Berkshire Hathaway Home Services, nor WIREX MLS shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices Fox Cities Realty - Berkshire Hathaway Home Services may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 Wisconsin Real Estate Exchange (WIREX) MLS, Inc. All rights reserved. Last Updated: September 20, 2026 11:38 PM UTC
