Your credit score is as important in the purchase of a home as your income or assets.  In an up market, your credit score will determine the interest rate you get on your loan.  A lower credit score will mean a higher interest rate, which means you will qualify for a lower loan amount.  That all equates to less home for you money.  In a down market, your credit score could preclude you from purchasing a home altogether.

Click here for an excellent explanation of just how credit works when purchasing a home.  Titled "How to Gauge Credit-Worthiness" it's written by Associated Press writer Alex Veiga.

Note:  There is only one website that will provide free credit reports, www.anualcreditreport.com.  You may receive one free credit report per year, however that credit report will provide no FICO scores.  To get FICO scores used for your home mortgage, try www.MyFico.com.  There is a charge per repository for each score.

If you are serious about home purchase, you may contact your Loan Originator to begin the process.  Many Loan Originators will run your credit report, including your FICO scores, for a reduced rate.  An excellent Loan Originator with extensive credit and credit-repair experience is Laura at Hacienda Mortgage.  Laura may be reached at YourAZLender@msn.com.