Confused about the differences between your credit reports vs. your credit score. The Home Matters blog by NC Housing Finance Agency breaks it down for you.
When you are in the process of buying a home, your credit score is at the top of your mind. You may know that many lending institutions require credit scores of at least 640, and the best mortgage rates go to the applicants with the best credit scores. But did you know that your credit score starts with a credit report? To truly understand your credit and where you stand, you must understand both the credit report and your credit score. Read on to learn the difference between the two and how you can get your credit in shape to buy that dream home in North Carolina!
What is a Credit Report?