In yesterday's blog we talked about the need to obtain your credit report from the 3 major credit reporting agencies-Experian, TransUnion, and Equifax. The reason for doing so was to have this information in front of you before you consider submitting your loan application to lenders.  Once you have these reports, you need to see what your FICO scores are.  If they not in the mid 700's, your chances of getting a good loan is poor.  This score is composed of many elements about you and your credit history-things like how many loans you have, what kind of payment history you have, what type of loans you have, etc..  A value is given to each of these elements, and a score assigned by each of the different agencies above.   

Assuming you are still eligible…

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