Unless you plan to pay cash for your house, you need a good credit rating. If you have no credit, you will pay an additional 3%, if you can get approved at all. If you have mediocre or poor credit, you will pay more in fees and interest rate. Having good credit will save you tens of thousands of dollars over the life of a loan.
If you have erroneous or unverified derogatory credit on your report, you have the legal right to dispute it. It is against the law for the credit reporting agencies to post bad credit that is inaccurate. You have the right to challenge any credit account you believe is not completely correct.
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