The Cost of Not Knowing Your 3 Credit Scores

Your credit scores are valuable pieces of information. They can help you buy the home of your dreams. Of course, if one of your credit scores is bad, it can turn your dream of home ownership into a nightmare. According to a recent post on the FreeScore.com blog, knowing all 3 credit scores may be the difference between getting what you really want and settling for less.
In “Know Your 3 Credit Scores and Save Thousands Financing a Home,” the experts at FreeScore explain the importance of checking your credit information for errors that could lower your scores. You may not realize it, but simple things like a misspelled name or address may cause credit companies to pull the wrong credit score. Imagine that you’ve just applied for a mortgage, but there’s a mistake in your credit information that the lender has on file. Instead of being offered a five-percent interest rate, you receive a rate at six percent. While that may not seem like much, purchasing a $300,000 house at that higher rate will cost you an extra $71,000 over the life of a 30-year mortgage.
Wouldn’t it be better to avoid the headaches and hassle? Before you decide to apply for a mortgage, pull your 3 credit scores and other credit information from FreeScore.com. You’ll get access to your credit data from the three major credit bureaus – Equifax, TransUnion and Experian. With this information in hand, you’ll be able to make more informed decisions and be better prepared to get the home you’ve always wanted.