The three main credit reporting agencies that mortgage lenders and banks check when approving a refinance, do not share information with each other. If you have not properly reviewed and fixed any errors that may be in your credit report, it can cost you thousands of dollars. These mistakes and errors will result in higher interest rates for you, if you even get approved, and a much more strict loan term. Here, I have included several tips as well as a link to an exclusive free credit report trial that checks all 3 of the major credit reporting companies and that will assist you in refinancing your home the right way, and save hundreds per month doing so.

The three giant credit reporting companies collect and report your personal financial information and give a report on your credit when it is requested. Due to the fact that these agencies do not share information between each other, it is possible, and common, to have a mistake in one of the companies records but not the other two. The credit reporting companies are not required to inform you about any errors in your report. It is solely your responsibility to make sure that your credit report is free of any mistakes and accurate. The major companies you should be concerned with are, Experian, Equifax, and Trans Union.

It is very important that before you apply for a new mortgage or a mortgage refinance that you request a copy of your personal credit report from each of the three companies. Carefully review and correct any mistakes or concerns you have.

After registering you will be able to get and print copies of your credit report from all 3 credit agencies all for free from one place. This makes this process extremely easier and saves you a lot of time and money. If you find any mistakes or errors there are simple processes available on the report that will allow you to swiftly update and dispute and mistakes. Finding a mistake can save you thousands of dollars in unnecessary interest payments, and dramatically increase your standard of living, all for free.

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