Credit is the hub of the wheel of the mortgage process.

Credit is an accounting of all your debts that you’ve held in the past and that you currently hold. The credit reports show all of these accounts along with your payment history on those accounts. It shows what your current minimum payment is, what the current balance on your account is*, what your high limit for that account is and, sneakily, lets us know if you’ve ever gone over limit on your account. It will show us how long you paid (or have been paying) on the account and the most of the account number, if you’ve had your credit pulled in the last 120 days (inquiries) including who pulled it and when.


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