First, you need to know that there are three major credit bureaus to whom your creditors report – Equifax, Experian, and TransUnion.  Some creditors may report only to one, some may report to two and some may report to all three.  When a mortgage investor (bank) looks at your credit, they want to see a report from all three bureaus.  This is because they can then look at ALL your credit.  This type of report is called a “three bureau merged report” because all three credit bureaus are reported on it and all your credit is “merged” on it.

For more detailed information, come to our FREE NO OBLIGATION FIRST TIME HOMEBUYER class or wait for future blogs.  “Simple answers to home ownership questions”.