The Boyenga Team | Silicon Valley REALTORSĀ®

Credit Explained

What's all this commotion over credit? Your credit rating has a lot to do with purchasing real estate (and anywhere else in the country), and many times is the determining factor that makes your next purchase smooth or a very ugly road.  Each person owes it to themselves to keep a close eye on their credit. I've seen an increase of incoming clients whose records show traces of identity theft, which many times are just self discovered when undergoing the loan process.

It shouldn't be this way! You should consistently monitor your credit at least three times a year. Checking your credit isn't at all hard; now there's a way to get your credit report for free. That's right; you can get your credit report three times a year and not have to pay a single dime for it.  If you want to minimize headaches before buying your next piece of real estate, be sure that your reports are free of collections, late-pays, and inquiries. This will overall improve your score and make acquiring a loan an easy process to endure.

Please read on to learn how credit plays a role in acquiring your next real estate investment, and how to get all three bureau reports for free.


Credit Bureaus

There are three different credit bureaus:

TransUnion LLC

Equifax Credit Information Services, Inc
P.O. Box 740241
Atlanta, GA 30374
To order report: 1-800-685-1111
To report fraud: 1-800-525-6285
Web site:

National Consumer Assistance Center
PO Box 2002
Allen, TX 75013
To order report: 1-888-397-3742
To report fraud: 1-888-397-3742
Web site:

Consumer Disclosure Center
P.O. Box 1000
Chester, PA 19022
To order report: 1-800-888-4213
To report fraud: 1-800-916-8800
Web site:


If you've ever considered financing a car or getting a loan from you bank, you've undoubtedly come across Equifax's Beacon score rating. The other two bureaus still have their own scores for you, but many times you'll find the score to be different.

In real estate, they will take the middle of your three credit scores. For example, if you have a 623, 645, 635, your loan officer will be able to get you different loan programs based on your 635 score.

Equifax has a 3-in-1 product that will pull all three of your reports for $29.95. Each bureau should have a product like this.

REMEMBER: Pulling your own credit WILL NOT affect your score, nor will it give any inquiries. So don't worry about pulling your credit periodically for review. In fact, I recommend it just to check for mistakes, unknown accounts (identity theft), etc. 

Getting Your Report For Free!

You may now receive your credit report for free, once a year, from each of the bureaus listed above. A good tip would be to request one from a different bureau every four months so that you may receive your credit report three times a year for free!

You may visit this site to get your credit report:

Please feel free to browse through this site to explore Silicon Valley's finest developments.  This comprehensive tool offers direct access to the latest properties for sale in the Greater Silicon valley. Featuring extensive community information, consumer links, rentals, school information, free reports, answers to commonly asked real estate questions, and more, you will find everything about real estate within one easy source.

Contacting the Boyenga Team is the best way to learn more about the real estate market. Feel free to call us at 408.373.1660, or send us an email by clicking here.

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