If you are looking to buy a house in the near future, right now is the time to review your credit report. Any errors can cost you points. An excellent credit score will save you money. A higher credit score 740+ will get you the best interest rates than a lower credit score of 620. A lower interest rate will equal more money in your pocket.
You can get a free credit report once a year from all 3 credit bureaus at http://www.annualcreditreport.com. Make sure you report any discrepancies to each of the bureaus in writing. Note: Free credit reports do not show your FICO score.
If your report has no errors but you need help improving your score then here is when a good loan officer can help you point out items that an underwriter might flag if you were to apply for a loan. You would need to get your credit run by a loan officer (you might have to pay a small fee usually under $25) and have him or her explain to you what items need to be resolved or explained so that you can be in a better position to be approved for a loan before you start shopping for a house with your Realtor.
Read more about what what you can do to improve your credit at http://lbej.webs.com/yourcreditscore.htm.
To learn more about the home buying process write to firstname.lastname@example.org
Liuba Bejarano, REALTOR, Short Sale Resource Certified