Home Buyer Help

Valid HTML 4.01!

Down Payment Assistance Programs

Reading Your Credit Report

Reading a credit report actually isn't as difficult as you might believe. Since different reporting agencies put the same data into differing formats, this is a break down on what the most common items mean:

R = Revolving
I = Installment
M = Mortgage
O = Other

Color Code Good/Bad

1 = Paid on Time
2 = 30 Days Late
3 = 60 Days Late
4 = 90 Days Late
5 = 120 Days Late
8 = Voluntary
9 = Charge off/Loss

Together they would Look like these examples:


S = Signer
J = Joint Account
B = Individual Borrower

Opened = The date the account was opened
Last Reported = The date the creditor last reported to the agency
Last Active = The date of last activity on the account

The rest of the information on the the report is pretty clear and concise.

If your credit report reflects nothing but R-1's and I-1's with no collections, judgments or liens, you're in great shape with regards to credit condition. If you have no credit, you're still in good shape for an FHA Loan. If you have credit issues such as collection accounts, charge offs, etc., you need to go to Repairing Your Credit 101 and get to work!

<<<Back - Continue>>>

Home Buyer Education:
Home Buyer Warranty

Copyright Copyright Notice2003 - 2012 U.S. #TX0006199019 - All Rights Reserved
Privacy Policy/Terms of Use

Printer Friendly Page
Refer Our Website
Credit Repair Techniques
Mortgage Calculators
Benefits to Mortgage Professionals
Benefits to Builders
Benefits to Realtors
Benefits to Sellers
Real Estate Terms
Home Buyer Education
First Time Home Buyer Grants
Charity Resources
Benefits To Home Buyers
Down Payment Assistance Home Page
Frequently Asked Questions
Find Local Professionals
MLS Search
line bar2
line bar3
line bar4
line bar5
line bar6
line bar7
line bar9
line bar10
line bar11
line bar12
line bar13
line bar14
line bar15
line bar16
line bar17
line bar18

VA Home Loan

bookmark this page

Link To Us - Your Link is why we are found in the search engines! Please Support Our Site

Down Payment Solutions
Find Success

Other Important Links for down payment assistance and first time home buyers:

Home Buyer Grants By State:
Alabama - Alaska - Arizona - Arkansas - California - Colorado - Connecticut - Delaware - Florida - Georgia - Hawaii - Idaho - Illinois - Indiana - Iowa - Kansas - Kentucky - Louisiana - Maine - Maryland - Massachusetts - Michigan - Minnesota - Mississippi - Missouri - Montana - Nebraska - Nevada - New Hampshire - New Jersey - New Mexico - New York - North Carolina - North Dakota - Ohio - Oklahoma - Oregon - Pennsylvania - Rhode Island - South Carolina - South Dakota - Tennessee - Texas - Utah - Vermont - Virginia - Washington - DC - West Virginia - Wisconsin - Wyoming