Buying a home is one of the biggest financial decisions you'll make, and understanding your credit profile is an important first step.

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AnnualCreditReport.com is the only federally authorized source for free credit reports from the three major credit bureaus: Equifax, Experian, and TransUnion. Reviewing your reports before starting the homebuying process can help you identify potential issues, verify that your information is accurate, and give you time to address any errors before applying for a mortgage.

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When reviewing your credit reports, look for:

• Incorrect personal information
• Accounts that do not belong to you
• Late payments reported in error
• Collection accounts that may have already been resolved
• Signs of identity theft or fraudulent activity

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Keep in mind that your credit report and your credit score are not the same thing. Your credit report provides the details of your credit history, while your credit score is a numerical representation of that information.

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Checking your credit early can help you avoid surprises during the mortgage approval process and give you a clearer understanding of where you stand before shopping for a home.

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*Important: While your credit reports are available at no cost through AnnualCreditReport.com, your FICO® Score is not included for free and typically requires a small fee to obtain. Since many mortgage lenders use FICO Scores when evaluating loan applications, it can be helpful to review your score as part of your homebuying preparation.