Understanding Your Credit

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Understanding Your Credit
Your credit report is a record of information about your credit payment history. Private companies called credit bureaus compile credit reports. There are three primary credit bureaus in the United States: Equifax, Experian, and TransUnion. Each of the credit bureaus gathers information about consumers from a combination of public records, such as court documents and property tax rolls, and reports provided by businesses, such as banks, finance companies, and utility companies.
You can purchase a copy of your credit report directly from each of the credit bureaus. If you are denied credit based on information in a credit report, the lender must tell you which reporting bureau was used, and the credit bureau must then provide you with a copy free of charge. If you disagree with information in your credit report, you have the right to challenge that information. If you want to purchase an on-line version of your personal credit report, please contact:
Equifax 1600 Peachtree St. NW Atlanta, Georgia 30309 1-800-685-1111 http://www.equifax.com/	Experian 34405 W. 12 Mile Rd. Farmington Hills, MI 48331 1-888-397-3742 http://www.experian.com/	Trans Union P.O. Box 390 Springfield, PA 19064-0390 1-800-916-8800 http://www.transunion.com/

At Tony Clark Real Estate, we depend on information in your credit report to help us decide if we can extend to you a rental housing agreement or purchasing property. If you're not sure what's in your credit report, may we suggest you review it before applying for a loan. Many consumer experts suggest that you review your credit report for accuracy at least once a year. Don't assume that you must have perfect credit to qualify for a loan. There are numerous financial products available, tailored to the needs of the individual. Mortgage programs such as FHA (Federal Housing Administration) and VA (Veteran's Administration) allow for a greater income to debt ratio. Talk to your Tony Clark agent that may be available to you, and to the home you are wanting to purchase.
	*related links:*
	Home Buying Guide
	Home Buying & Your Finances
	Real Estate Terminology