Getting
Your Texas Credit Reports
When refinancing your current mortgage
or applying for a new mortgage, getting your credit
report is easy. The cost of obtaining a tri-merge
credit report is about thirty five dollars.
A tri-merge credit report is a combination
of reports from all three credit bureaus. When applying
for a mortgage, a single credit report is not sufficient,
a tri-merge credit report is required. Mortgage
lenders evaluate the three credit scores and use
the score which ranks in the middle as your final
credit score.
Each time your credit is checked a record is added
to your credit report.
If there are to many checks on your credit
in a short period of time your score may be negatively
impacted. At a
minimum, the credit checks will be displayed to
all subsequent creditors, who may be more cautious
if they see to many credit checks.
Credit scores range from about 375
to 900. A score of 700 or above is normally required
for the lowest interest rates available. 620-699
for average interest rates. And 500-619 for B&C
loan programs.
Credit Reporting Companies
Equifax Credit Information
Services, Inc
P.O. Box 740241
Atlanta, GA 30374
Phone: 800-685-1111
Internet: www.econsumer.equifax.com
Experian
955 American Lane
Schaumburg, IL 60173
Phone: 888 397 3742
Internet: www.experian.com
TransUnion
Post Office Box 2000
Chester, PA 19022
Phone: 800-888-4213
Internet: www.transunion.com
