Many people are coming to realize that it is a good idea to get a free credit report Philadelphia PA before they even start shopping for a major purchase. They sometimes find this out the hard way when they go shopping for a car or house, find just what they are looking for, begin applying for a loan, then are confronted by the loan officer with credit report problems. The loan officer for any major purchase will always start by reading your credit report. To prepare for your loan application, you should do the same and avoid any surprises.
In the case of a car, bad credit is not necessarily a deal breaker. However, it will affect the interest rate of the loan. The difference in interest rate offered for a borrower with good credit versus one with bad credit could mean a significant change in the monthly premiums. It can be disappointing to find for example that you could purchase a car for $200/mo with good credit only to find that you will be required to pay $300 because of problems with your credit report. Some websites will even allow you to factor in your credit scores when you calculate your estimated payments for a vehicle at a particular price. This will allow you to make sure you are shopping for a vehicle within your affordable price range.
In the case of purchasing a home, the story is completely different. Families with very acceptable credit scores can be turned down for a home loan because of problems on the credit reports. A lot of research and emotional investment in choosing a home can be derailed by something unexpected on a credit report. For a purchase this important, it is essential to research your credit reports far in advance of visiting a realtor’s office.
A good place to start is to get a free credit report in Philadelphia PA. These are available for each of the three credit bureaus: Experian, Transunion, and Equifax. Each of your creditors looks at all three, so you should as well. If you are shopping for a car and all three of your credit reports are in the excellent range, then you are ready to go. However, if you are shopping for a house, then you need the details behind the numbers. In addition, if your scores are less than wonderful, then the problems are only described in the detailed reports not available in the free credit report in Philadelphia PA. For these, you pay a modest fee.
Looking for free credit report in Philadelphia PA to make sure your credit scores are great. Financial Investments & Trust offers free credit report in Philadelphia PA to check your credit score. Get in touch with Fitcredit.net for more information!
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