Thinking of Buying a New Home? Check Your Credit Report First

mchenry county new homesIt is a great time to be looking at McHenry County new homes. Many builders are offering great incentives to buy now before the end of the year. And, of course, our Gerstad Homes are no exception! You’ll definitely want to check out our December to Remember sale if you are thinking of buying before 2011. We are offering up to 50% off of upgrades and selections (up to $50,000)! Talk about special holiday wishes coming true!

However, another really important thing to check is your credit report. When was the last time you got a copy of it. . . if ever? It is a good idea to get a copy of your credit report and identify errors before you even walk in the door of a model home.

A recent post on the Equifax Personal Finance Blog reminds us that reporting agencies have up to 45 days to answer consumer concerns. This could really slow down your contract and mortgage approval process! Especially if you are hoping to close and move in quickly!

There are several credit reporting services, and getting all three reports at once can be a bit overwhelming. So consider requesting just one free report to start and review it carefully. The Equifax folks also say to double check your personal information and payment histories. In addition, make sure to look at the dates accounts were opened and the account balances. If you discover activity on accounts you haven’t been using, if you see credit inquiries you didn’t initiate or you see negative information that should no longer be there, you’ll want to contact the credit reporting agency. You’ll also need to go ahead and request the other two reports and check for the same inaccuracies.

So check out your credit and then come see us and check out our McHenry County new homes! Visit us online at www.GerstadBuilders.com. Also, please comment and let us know your holiday wishes or credit questions.