Contrary to popular belief, home ownership does not begin with picking out a home and securing a home mortgage to finance a purchase. The process actually begins with an individual building a credit history worthy of qualifying for the best rates on a home loan. Mortgage Marvel's FAQ section relating to credit and credit scoring provides not only the basic information on the topic, but also valuable tips on how to improve your credit score.
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Frequently Asked Questions About Credit and Credit Scoring

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What is a credit history?
What is a credit score?
How can I build a credit history if I don't have any credit?
What can I do to get the best credit score?
If I have an error on my credit history how can I fix it?
Can I get a mortgage after bankruptcy or foreclosure?

What is a credit history?

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What is a credit score?

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How can I build a credit history if I don't have any credit?

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What can I do to get the best credit score?

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If I have an error on my credit history, how can I fix it?

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Can I get a mortgage after bankruptcy or foreclosure?

If you've had a bankruptcy or foreclosure in the past, it may affect your ability to get a new mortgage. Unless the bankruptcy or foreclosure was caused by situations beyond your control, lenders generally require that two to four years have passed since the bankruptcy or foreclosure. It is also important that you've re-established an acceptable credit history with new loans or credit cards. Some lenders may offer special programs in these situations so it's important to discuss your options with a loan officer.
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