Mortgage Glossary
Credit Report
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A credit report is a detailed record of your borrowing history compiled by the credit bureaus, showing accounts, balances, payment history, and inquiries.
What Credit Report means
Lenders pull reports from Equifax, Experian, and TransUnion to assess risk. The report drives your credit score and shows late payments, collections, and how much of your available credit you use.
Florida example
A Florida applicant should pull all three reports before applying, since errors are common. Disputing an incorrect 30-day late or a paid collection can lift a score enough to drop from FHA into a cheaper conventional rate tier.
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