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Is there a fee to check credit to be approved for home loan?

Profile picture for peter0409
I want to buy a home. I don't know if my credit is good enough to be approve. If I want aa loan agent to check my credit to see how much I am approved for the loan, do I have to spend any money to do so? or it is free?
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August 14 - US
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Profile picture for tawnylynn
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If you simply want a free copy of your credit report to review prior to applying for a mortgage loan you can go to the FTC (Federal Trade Commission) approved credit source at www.annualcreditreport.com  For a few dollars, you can have your credit scores included as well. The cost to order a credit report from the credit reporting company I use is about $28.00. This is the actual cost. The borrower can be pay for the report at the time of the loan application or at the closing of the loan.
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August 14
Profile picture for Colorado Mtg Broker
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Peter, most mortgage companies and or banks will charge a small fee, however what you will see on that credit report will be what we follow for your approval.  Online companies such as freecreditreport.com, will be completely different than the mortgage report and is not really anything that you will want to use to judge your credit to purchase a home. 

Good Luck!
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August 14
There is a fee. Some will not require you to pay it, but there is absolutely a fee.  Make sure you can get the report itself before you pay anyone, though.

And incidentally, getting the free one online will do you absolutely no good as far as knowing whether you qualify for a mortgage.  The scores you get from your lender will be different - lower, almost always - than the scores they give you at the online free services.
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August 14
Profile picture for BrokerPro
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The fee is low.  It's worth finding out exactly where you stand.
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August 14
Profile picture for Lindsey M. Bishop
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Where are you located? I am sure there are many mortgage consultants in your area who will be able to pull your credit at no charge and even guide you on how to improve your credit if you can not be pre-approved right away.

Good Luck!

Lindsey :-)
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August 14
Profile picture for CA UMB
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That depends on whom you choose. Some don't charge for a pre-approval which includes a credit report. Others charge only for a credit report from $14.00 to around $50.00. ... Best wishes, Rudi
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August 14
 

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