Types of Credit Reports
- Single Bureau Report: This report provides information from
a single bureau and typically costs eight to ten dollars.
- Three Bureau Merged Report: This report provides information
from all three bureaus and typically costs twenty to thirty
dollars.
- Standard Factual Credit Report: This is a more detailed
credit report and costs forty to sixty dollars.
The Standard Factual Credit Report is prepared by a credit service
bureau in your area, and is forwarded to both you and your loan
officer. The local credit bureau will request your credit history
from all three credit reporting agencies, edit those reports for
currency and consistency, and blend them into a single document
for delivery to the interested parties. They will begin this
process only upon receipt of a consent form signed and dated by
you at the time you file your application with a loan officer.
There are several categories of information in the completed
report:
- Identifying information
- Employment information
- Credit information
- Public records if any (tax liens, judgements, bankruptcy
etc)
- Inquiries for your record by others
The following categories are NOT included in your report:
- Race
- Religion
- Health information
- Driving record
- Criminal record, if any
- Political affiliations, if any
- Income
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