Prepare your credit picture

Credit Report Basics for a Mortgage

Mortgage underwriting may use credit reports and scores along with income, assets, debts, property information and the selected program. A score is important, but it is not the entire decision.

Check before the transaction

Review your reports for unfamiliar accounts, incorrect balances or identity concerns early enough to investigate them.

Do not make assumptions

Closing accounts, paying debts, moving balances or opening new credit can have unexpected effects. Discuss major changes with your mortgage professional during an active transaction.

Need an answer for your situation?

General information is useful. A mortgage professional can help you evaluate the facts that apply to you.

Contact 7th Level Mortgage
Mortgage News ChannelWhat are you looking for?

Popular pages

Buy a HomePurchase loans, first-time buyers and preapprovalConventional LoansConventional mortgage options and mortgage insuranceFHA MortgagesFHA-insured purchase and refinance educationVA Home LoansVA benefits for eligible Veterans and service membersUSDA LoansUSDA rural housing loan educationRefinance & Home EquityRefinance, cash-out, home equity and HELOC choicesDebt ConsolidationUsing mortgage financing to consolidate eligible debtReverse MortgagesHECM and proprietary reverse mortgage education
Mortgage News ChannelAsk the Mortgage Guide

Start with your goal—even if you don’t know the loan terminology.

Ask a general mortgage question or choose a common topic below.

General education only—not a rate quote, approval or underwriting decision. Do not enter sensitive information.