Definition of Credit Report:
Credit Reports in Orange County:
A report derived from one of the credit repositories which states the type of credit a borrower used and whether he or she paid their bills as agreed. The 3 credit reporting agencies are: Experian, TransUnion and Equifax. A lender or mortgage broker in Orange County, California will always obtain a credit report as well as the corresponding credit score so they can determine a borrower’s credit worthiness, prior to granting a loan request. All people in the U.S. including clients of BanCorp Realty can download a free report from all three credit reporting agencies at Annual Credit Report (this can be done once per year for free).
How Checking Your Credit Report in Orange County Affects Your Credit Score:
When a person want to check their own credit report online it will never affect their credit score. However, when a lender or mortgage banker pulls a credit report it may cause a person’s credit score to drop a few points. When a person is shopping is in the market to purchase a home in Orange County it is not a good idea for them to be looking around to buy a car or to get a credit card as these inquiries on their credit will most likely have a negative impact on their credit score.