Can’t Fix Your Credit? Fix Your Report: The Overlooked Errors That Could Hold You Back
If your credit score feels like the biggest obstacle between you and homeownership, you’re not alone. Many people focus on trying to raise their score yet one of the most powerful steps isn’t about improving your credit… it’s about correcting it.
Small, simple errors on a credit report can sometimes cause delays, lower your score, or make lenders more cautious. The good news? These issues are often easy to fix once you know what to look for.
Why Your Credit Report Matters So Much
Your credit report is one of the main tools lenders use when reviewing your mortgage application. But credit reports aren’t perfect. They can include:
- outdated information
- duplicated accounts
- payments marked late when they were actually on time
- accounts that should be closed
- accounts that don’t belong to you at all
Even a minor mistake like an address you’ve never lived at, or a misspelled name can influence your credit score and raise avoidable questions during underwriting.
This means fixing errors can sometimes help you more quickly than trying to “boost” your score in other ways.
Common Things to Check on Your Credit Report
Experts recommend checking your credit reports from all three bureaus (Equifax, Experian, and TransUnion) at least once a year. When you do, pay close attention to:
1. Personal Information
Is your name spelled correctly? Does the address history look right? Is your Social Security number accurate?
2. Account Details
Are all open or closed accounts listed correctly? Are the balances and credit limits accurate?
Do you see any missed payments that you know were paid on time?
3. Hard Inquiries
Do you recognize the companies that pulled your credit?
If not, it could signal an error or possible fraud.
4. Negative Items
Collections, late payments, or public records should eventually fall off your report.
Most negative items fall off after 7 years, so check the dates.
Finding an error is not a bad thing. In fact, it’s one of the fastest ways to improve your credit standing because you’re simply correcting information that shouldn’t be there.
Why This Matters for Homeownership
Understanding your credit report and making sure it’s accurate gives you clarity and control. It helps you:
- see your true financial picture
- avoid surprises during the mortgage process
- potentially improve your credit score
- move forward with confidence instead of confusion
And here’s an important reminder:
You don’t have to have perfect credit to start preparing for homeownership.
Many people believe they need flawless scores before talking to someone, but that’s simply not true. You can begin planning long before you’re ready to apply for a loan.
You Don’t Have to Review Your Credit Report Alone
Going through your credit report can feel overwhelming, but you don’t have to do it by yourself. Through your Employee Homeownership Program, you can schedule a free financial fitness consultation to get:
- Help reviewing your credit report
- Guidance on whether something looks inaccurate or needs follow-up
- Clarity on whether you should pay down, pay off, or leave debts as they are
- A better understanding of your debt-to-income ratio
- A comfortable, realistic plan for moving toward homeownership
Whether you want to buy soon or simply want to get prepared for the future, we’re here to make the process simpler and less stressful.
Schedule your free financial fitness consultation today to get personalized support and a clear plan forward.
SupportSquad@AdvantageHomePlus.com | (800) 511 2197
The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. * Real estate commission contributions are available as state laws allow.
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