If you have bad credit or blemishes on your credit report, your home loan choices may not be as limited as you think. Minor credit problems or credit problems that result from illness or temporary job loss may not cause your costs to go up when applying for a home loan.
* Sit down with your lender or broker and explain your situation.
* Ask how credit history will affect home loan costs and mortgage rates.
* Find out if there is a way to get a better price and terms for your home purchase loan.
* Get a copy of your credit report and review it for accuracy. It's easy to do. Just contact one of the three major credit reporting firms: Equifax, TransUnion, or Experian.

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