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818 University Ave
Sacramento, CA 95825

Phone: (916) 736-3575
Fax: (916) 244-2697
Email: neal.smith@pcmloan.com

A few times a month, we send out useful articles and information to our clients and business partners. We would love to include you!

Getting Your Credit Report

Your credit report is an important tool when you are looking to buy a home or refinance. If you are interested in what exactly is included in that report, check out our “What’s in your FICO Score” page. Your credit report should positively reflect the way you manage your money and can help us ensure that you are getting the best loan and interest rate you deserve.

The easiest way to obtain your credit report is to contact Equifax www.equifax.com, Experian www.experian.com, and TransUnion www.transunion.com. These are the three major credit reporting agancies who will be able to provide you with a copy of your credit report. Due to the fact that these agencies work independently, the information on each of the three reports may differ. You also may not know which of the three agencies your lender will be using, so knowing what is included in all three reports gives you a great advantage!

In addition, if you have applied for something like a credit card, insurance, or employment and have been denied due to information in your credit report from any of the three agencies, you are entitled to a free copy of that credit report. You can receive this copy by contacting the reporting agency within 60 days of your denial. You are also entitled to a free copy of your report each year. You’ll read more about this below.

New Law Promotes Free Access to Credit Reports

Effective September 1, 2005, free credit reports are accessible to all consumers. This is a result of an amendment to the federal Fair Credit Reporting Act (FCRA), requiring each agency to provide you with a freecopy of your credit report, at your request. You can do this, once a year, buy going to www.annualcreditreport.com.

Credit reporting agencies may also offer the services listed below, for an additional fee:

  • Credit scores (in addition to your one free report each year)
  • One report allowing you to see a side-by-side comparison of records from all three agencies
  • Notification services when your credit history is requested
  • Notifications when there has been a change to your credit score
  • Subscriptions allowing you to access your score on a regular (usually monthly) basis

 If you are considering purchasing a home or just curious about what your credit score,  it’s important to know what’s in your credit report and to correct any errors or inaccuracies you may find as soon as possible so that they do not negatively and unfairly effect you in the future!