Your credit can really be a factor in determining where you can go in this life , such as where you want to live or getting a business loan. You can check your credit for free at least once a year just go to http://annualcreditreport.com. Although it does not tell you what your scores are but it does give you an idea what is reporting. You will have to pay to get your scores.
But you really need to know what is being reported on your credit report. You can have relatively good credit but if the wrong thing is being reported on your credit it can actually stop you from getting a home loan. Sure you were able to buy a car no problem. You were even approved for that new credit card. And you just bought your self some nice jewelry on credit. Everyone told you that you had good credit so why worry ?
The thing is when trying to get a home loan its a whole different ball game. What lenders are looking are so much more intense than a car loan or a credit card company. When it comes to home loans we are a “New World” now. Many times it can be an old account that you forgot and you disputed it. Lets say it was collection account or it belonged to someone else so you disputed it and it is showing that the account is in dispute. Especially if this account was an old home loan showing that it is in dispute, which happens a lot. You did a short sale on your home but its showing as a foreclosure and you disputed it. But you never followed up on it. Guess what till you get that taken care of your lender will not be able to proceed forward with you home loan.
This is one main reason to have your credit checked just once a year and why you need to get pre-qualified before you actually go looking at homes and then want to make an offer that day on a home that you just love that you cannot even buy, because of your credit. Because of one account you thought went away, and is still lingering on. Now that account may be an easy fix or not, but the seller is not going to wait long so you can get your credit in order. This is actually very common.
Know what is on your credit so you know that there is no incorrect information and that it is updated correctly as well as before you decide to do any home shopping. Get pre-qualified first.