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Your Credit Report and FICO Credit Score
Its More Important Than You May Think.

Get your credit report FREE and Prevent Identify Theft: Opt-out of pre-screened offers.

Perhaps the most important factor in qualifying for a home loan is your credit.
Companies such as Experian, TransUnion and Equifax routinely collect and maintain information from credit card companies, banks, department stores, etc., about your payment history, and use it to compile your credit report. In addition, they also collect information from collection agencies, county, state and federal governments, to report items such as collection accounts, judgments and bankruptcies.

The fact is today that many people have blemishes on their credit reports. Whether from divorce, being laid off, or just getting in over their heads, people can begin to re-establish their credit, and eventually qualify to buy a home. Some lending guidelines even allow you to obtain a home loan while currently in a bankruptcy and even stop a foreclosure. Just because your have a few late payments doesn't mean you can't buy a house. Times have changed. We NO LONGER very many programs for people with bruised credit. BUT, don't automatically think you can't get approved... Spend 15 minutes with a mortgage professional. You just might be surprised at what you hear!

Credit Risk Score?
Some credit grantors make hundreds – even thousands – of credit granting decisions every day.

To help them make those decisions faster and more objectively, they rely on a computerized process that results in a risk score (or credit score).

Your credit score is often a major factor in qualifying for credit. Lenders can obtain a computerized credit score when they pull your credit. This score is a number which represents an applicant's potential credit worthiness. Although credit scoring has existed for many years, it is gaining popularity in mortgage lending. Many loans are granted or denied on the basis of your credit risk score.

Until recently, Fair Isaac & Company, the creators of the credit scoring model refused to reveal the mysteries of what effects your score (good or bad), and how they arrived at it. Not anymore, click here for details: Credit Score Secrets Revealed. They have also recently began releasing to consumers their scores and interpretive data for a nominal fee.

Many times, information is reported incorrectly on your credit reports. A copy of your credit report can be obtained by clicking the link above. There is a dispute process that allows you to question the accuracy of items on your report, if you feel any items are improperly reported. You don't need to pay a credit repair company. One word of advice. Contact ALL THREE credit reporting agencies. Getting something corrected from one agency doesn't mean it got corrected with the other two!

You can get more information directly from the credit bureau's web sites.

Understanding your FICO® score

This booklet provides a thorough description of credit scoring, including ways credit scoring can help you, the relationship between your credit report and your credit score, what a FICO® score considers, and interpreting your score.

When applying with the Joe Metzler Team of Mortgage Consultants, we will always be happy to share your score with you.
Click HERE for more information about your personal credit score, and how to find out what it is.

WHAT'S YOUR CREDIT GRADE? Every lender uses different guidelines to determine your credit worthiness. Upon reviewing your application and credit report, you're given a credit grade and a determination regarding your loan's approval or denial. Click HERE for some general criteria used within the mortgage industry to determine credit. Bruised Credit? Click here for more info. You might still be able to get a loan!

Prevent Identify Theft: Opt-out of pre-screened offers. Stop the flow of junk to your mailbox. The consumer credit reporting industry has provided a way to “opt out” and remove your name from these lists. You can contact them by phone at 1-888-567-8688 or online at  It is quick, easy, and free - and valid for 5 years!

Get your credit report FREE

Are you thinking of buying a home? Do you know if you are eligible for a loan? You may want to obtain a copy of your credit report! The information in your credit report affects whether you can get a loan and how much you will have to pay to borrow the money. By checking your credit report, you can ensure that the information is accurate and up to date.

Did you know that you can receive your credit report for free ONCE A YEAR? A recent amendment to the federal Fair Credit Reporting Act (FCRA) requires each credit reporting agency – Experian, Equifax and TransUnion – to provide you with a free copy of your credit report, at your request, once every year.

How to get your free credit report:

The three credit reporting agencies have set up one central website, toll-free telephone number, and mailing address through which you can order your free annual report.

On the Web:

Telephone: 877-322-8228

Mail in this Annual Credit Report Request Form to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

Once you receive your report, give me a call. I’ll pre–qualify you for a home loan before your home search begins. Buying a home is a big step. You can trust me to find the loan program that’s best for you.

  Equal Housing Lender

Policies, Procedures, Disclaimers

33 Wentworth Ave E - Suite 290
St Paul, MN 55118

(651) 552-3681  

Member in Good Standings, National Association of Mortgage Brokers Read our weekly Mortgage Market review Member in Good Standings, Minnesota Mortgage Association

Our services available only for properties located in Minnesota, Wisconsin, and South Dakota. PLEASE DO NOT KEEP US A SECRET from your FRIENDS. Licensed as Mortgages Unlimited, Inc. Nationwide Mortgage License # 225504. Joe Metzler NMLS Originator Lic # 274132. As a Lenders One partner, we are part of the 3rd Largest Retail Mortgage Originators in the country. We are consistently ranked as one of the largest lenders in Minnesota by Minneapolis/St. Paul Business Journal. Any use or duplication of any materials is  strictly prohibited.  All images, text, and materials Copyright 1998 - 2019. Joe Metzler. All Rights Reserved.

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