To check your credit report for a house purchase, visit to obtain free reports from Equifax, Experian, and TransUnion. Review each report for errors, such as incorrect balances, missed payments, or unauthorized accounts. Dispute inaccuracies online or via mail within 30–45 days. Monitor your credit score (FICO or VantageScore) and ensure it meets mortgage lender requirements (typically 620–740).

Checking credit reports is critical because errors can lower your score, increase mortgage costs, or delay approvals. The Federal Trade Commission (FTC) found that 1 in 5 consumers has at least one error on their report, which may reduce creditworthiness by up to 50 points. A FICO score below 620 often leads to loan denials or higher interest rates, as lenders view lower scores as higher-risk. For example, a 2023 Equifax study showed that 68% of mortgage applications with scores below 620 were rejected. Regularly reviewing reports ensures accuracy, allowing borrowers to address issues before applying. Lenders pull reports at application, so pre-purchase checks prevent surprises. Disputing errors can resolve issues like mistaken debts or identity theft, which the FTC estimates cost consumers $4.3 billion annually. Proactive monitoring also helps maintain a stable score, as credit utilization (over 30%) and payment history account for 30% and 35% of FICO scores, respectively. Ensuring report accuracy maximizes loan eligibility and minimizes long-term costs.