A credit report is a list containing all your past and present loans and credit accounts as they are reported by financial institutions and businesses that you have transacted with. It is simply a history of everything you are doing and have done with your credit. The mathematical representation of the information in your credit report is your credit score. Your ability to get credit and credit rates is dependent on your credit report and credit score. You can check your credit score at Credit Karma.

Your credit score is arguably the most important number in your financial life. Fortunately, checking your credit score is easier than ever now. Before applying to buy a house, knowing your score is essential, as it provides a concise insight into the interest rates to expect. You can check interest rates on Credit Karma too!

Your credit isn’t affected by checking your credit score, whether you are applying for credit or not. Honestly, regularly checking your score is just the smartest and most ethical thing to do.

Why should you check your credit report?

· It can help you with a better understanding of your credit position.

· It makes you more aware of what lenders may see.

· Regularly checking your credit report can help you detect incomplete or inaccurate information.

· Knowing your current credit position helps you make certain lending decisions.

Generally, knowing and understanding your credit report is a necessity! When preparing to buy a home, taking ample time to check your credit score and credit report helps prepare you for the next homebuying step.