Mortgage Application Factor: Credit Report


Buying a Home is a Huge Investment. Make Sure You're Ready.


Purchasing a house is the single largest purchase and investment you will make in your lifetime. When you are ready to apply for your mortgage, make sure that you are aware of all the factors that can affect your ability to qualify for a mortgage approval. Today we will cover factor number one, your credit report.


How Does My Credit Report Factor Into My Mortgage Application?


A lot can change in a matter of a month within your credit report. Before applying for a mortgage it is best to find out where your credit currently stands. Even if you have checked your credit months before, it is best to obtain a current report with all three credit bureaus: Experian, Equifax and TransUnion.


What Affects My Credit Report?


Changes in your credit report can come from:


Your Payment History


  • Acquiring new late payments
  • Acquiring new collections
  • Acquiring new public records


Amount of Debt Owed


  • Debt added from opening new accounts
  • Fluctuation in usage of lines of credit (Example: maxing out credit card balances).


Length of Your Credit History


  • Opening new lines of credit
  • Closing established accounts


New Credit Lines


  • When applying for new lines, inquiries are added to your report


Mixture of Credit


  • Showing you can responsibly manage different mixture of installment accounts and revolving accounts


What If There Are Errors in My Credit Report?


If you find any inaccurate or unverifiable information reporting with any of the three credit bureaus know that you have rights! Many times you have no fault in these errors.

You may dispute the items in question, or hire a professional company such as MSI Credit Solutions.

Any items in question that are removed through this process result in an increase to your credit score.


A Better Credit Report = A Better Chance of Getting a Mortgage


Ensuring that your credit report is in good standing before applying for your mortgage can make the loan process a lot easier. To monitor your credit report and scores visit Score Safety. Check out our other checklists Qualifying for Your Home Purchase and Purchasing the Right Home, for more information on the home buying process. Join us next week as we will cover the next important factor, credit cards.




MSI Credit Solutions provides superior credit restoration and comprehensive consulting services that are reliable and affordable. For any questions or to schedule a free credit consultation, contact us at (866) 217-9841.

 *The information in this article has been provided strictly for educational purposes.


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  1. […] to qualify for a mortgage approval. In our last blog installment we covered the importance of your credit reports. Today we will cover one of the biggest factors, your credit card […]

  2. […] your ability to qualify for a mortgage approval. So far we have covered the importance of your credit report, credit cards, and debt. Today we will cover another important qualification factor, your […]

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