The three major credit bureaus—Experian, Equifax, and TransUnion—maintain credit information and generate credit scores. Your scores may differ between bureaus, and the scores you see through a consumer credit service may differ from those used for mortgage lending.

For mortgage qualification, lenders generally evaluate credit scores according to the requirements of the loan program and the borrowers on the application.

Credit scoring models evaluate several aspects of your credit history, including:

• Payment history: Whether you pay your accounts on time.
• Credit utilization: How much of your available revolving credit you use.
• Length of credit history: How long you’ve maintained credit accounts.
• Credit mix: The types of credit accounts you have.
• New credit and inquiries: Recent applications for credit and related inquiries.

Learn more about these factors in our Five Categories of Credit guide.

Review your credit reports for inaccurate information, unfamiliar accounts, and incorrect balances or payment histories. Addressing errors before applying for a mortgage may help prevent avoidable delays.

Mortgage inquiries are also worth understanding. The old Mortgage Mark guide explains that multiple mortgage inquiries made within a limited shopping period may be treated as one inquiry by certain scoring models.

For more guidance, see How to Remove Credit Report Disputes and Opt Out of Credit Solicitations.

Before and during the mortgage process, avoid opening new credit accounts or significantly increasing credit balances without first discussing the potential impact with your lender.

If you’re preparing to buy a home, our Do’s and Don’ts When Getting a Mortgage guide covers other financial decisions to consider.