 TITLE: Checklist of Documents You’ll Need for a Mortgage CONTENT: Credit\n------\nYou won't need to provide your own credit reports or credit scores when applying for a mortgage (your lender will pull those themselves). However, going over them before submitting any mortgage applications is vital because it clues you into what potential lenders will see. You can get a free copy of your credit report from all three consumer credit bureaus at AnnualCreditReport.com. You can also check your credit report and credit score for free with Experian. Doing so allows you to get ahead of any potential roadblocks in your path. These may include:\n*   Past-due accounts\n*   High account balances\n*   Fraudulent activity or information you believe to be inaccurate\nIn some instances, your mortgage lender may ask you to provide a letter of explanation. This document gives you the opportunity to expand further on areas of your mortgage application that raise red flags for the lender—like credit issues. If there are any derogatory marks on your credit report, your letter of explanation may quell their worries. Now is the time to briefly explain what happened and when, hopefully providing reassurance that the issues are behind you.\nOne problem may be a lack of credit history. If you have a thin credit file (few credit accounts on your credit report), your lender may suggest an FHA loan over a conventional loan. FHA loans, which are backed by the federal government, allow for credit scores as low as 580 with a down payment of 3.5%. If you can put down 10%, you may be able to qualify with a credit score of 500. For a conventional loan, the minimum credit score is typically 620. END