Almost everyone needs credit to buy a home, but not everyone may be aware of the truth behind some common credit myths. Here are a few important ones to know. Your payment history, length of credit history, types of credit used, and ratio of credit availability  are important facts your lender will use. You should always know what is on your credit report before a lender does, that way if there are any errors or negative marks on your credit report you can fix them prior to being reviewed. There are a variety of free websites that are easy to use to check your credit score. These websites can help you understand how your score is calculated, which factors impact it and the best time to apply for credit. Lenders usually use a variety of scores so they may see something different than the one used, but it is better for you to understand how lenders may view your credit. Also, just because one lender turns you down does not mean all of them will. Do your research and shop around.

Blog inspired by article featured in The Monitor and can be seen here: http://homes.themonitor.com/news/credit-349-score-truth.html