| iv>your credit score determines how much interest | | | | may just be the determining factor in why you don't |
| you will pay, whether or not you will be able to | | | | get that car loan or credit card. |
| purchase different things as well as affecting your | | | | Looking for job? Better hope you have a decent FICO |
| ability to get a job. | | | | score. These days potential employers are obtaining |
| Given the current state of the economy, your credit | | | | your score in an effort to predict what kind of worker |
| report and credit score has become increasingly | | | | you will be. Apartment managers and land lords will |
| significant when it comes to borrowing money. | | | | also use this number to gauge whether or not you will |
| Mortgage companies in particular, in an effort to | | | | pay the rent on time. |
| reduce risk are scrutinizing credit scores to the point | | | | Getting your free credit report is actually quite simple. |
| that getting a home loan is about as easy as building a | | | | will give you your report from Experian, Equifax and |
| rocket. We recently discovered that Fannie Mae has | | | | TransUnion once each year. You will get access to |
| created a new set of guidelines regarding your credit | | | | everything contained in your credit report except the |
| score. If you have a score below 680 you will pay a | | | | credit scores. This makes the service pretty useless. |
| higher rate on your mortgage. For the past decade | | | | There isn't much benefit in getting your free credit |
| they set the standard at 620. According to the credit | | | | report unless it comes with your credit scores. |
| bureaus, the average score is just below 680. | | | | Everyone knows that nothing in life is free. It seems |
| What do you think is the most important factor in | | | | that there is a catch to everything these days. |
| getting a home loan? Most people don't realize it, but | | | | Through various affiliates of the credit bureaus you |
| your credit score tops the list as the most important | | | | are able to obtain all three of your credit scores, but in |
| factor. There are a few other things that you must | | | | order to do so you are required to enroll for a free |
| have as well. A down payment is now mandatory. In | | | | 30-day trial of credit monitoring service and required to |
| the past you could have the seller pay all of your | | | | give your credit card number. If you choose to opt out |
| closing costs and get 100% financing meaning that you | | | | within the trial period, you will not be charged. |
| got in without a dime out of pocket. Not any more. | | | | Technically, you just got a free credit report with credit |
| You will also need verifiable income. Another big | | | | scores. |
| change from the days of "stated income" mortgages. | | | | Most of these services allow you to obtain unlimited |
| It takes a combination of all three of these things but | | | | updates to your credit scores along with identity theft |
| credit score carries the most weight. | | | | protection and various other valuable features. You'll |
| Beyond being approved for a mortgage loan, your | | | | be able to see who has been looking at your credit as |
| credit score will determine the rate you get on a car | | | | well as get contact information for all of your creditors. |
| loan, the interest rate you pay on credit card balances | | | | If you haven't seen your credit scores lately, take the |
| and which type of cards you qualify for. These days, it | | | | time soon to find out what they are. |