Understanding your credit report

A credit report records information about your credit history. A credit score is a separate measure, and the score you see in an app may differ from one a mortgage lender uses. Begin with the reports themselves rather than assuming one number explains your options. Use AnnualCreditReport.com (opens in a new tab) to request your reports through the official source. Follow the site’s current instructions and keep downloaded reports secure.

Check identifying information, the accounts listed, and payment details. Note anything unfamiliar or potentially inaccurate. Keep a questions list rather than guessing what an entry means. Checking your own credit does not damage your scores. The CFPB explains this distinction (opens in a new tab) in its homebuyer preparation guidance.

If you find a possible error, use the CFPB’s credit-report dispute guidance (opens in a new tab). It explains contacting the reporting company and the company that supplied the information. Keep copies of relevant correspondence. A dispute is a way to address inaccurate information; it is not a promise that accurate negative information will disappear.

Before making credit changes specifically to prepare for a mortgage, ask a qualified lender or housing counselor about your situation. Avoid assuming that opening or closing an account, or paying a particular balance, will produce a predictable score change or approval. You do not need to send credit reports, account numbers, or other sensitive financial documents through Diane’s website contact form. A general question is enough to begin.