Credit History 
TransUnion
Equifax

How Credit Score Affects Buyers
Your credit score is one of the most important factors in determining what you are able to buy. In order to make it easy for mortgage companies to determine the risk of lending, the companies are using a system called credit scoring (also called "FICO" scores). When lenders look at a credit report, they can instantly see how much debt the client has, how reliable the client is with bill payments and if the client has had any bankruptcies within the last several years.
 

With the credit report, lenders get a "credit score" which takes all of this information and boils it down to a number between 300 and 900. The higher the number, there is less of a credit risk and this is how lenders decide which types of loans you will be eligible for. To be eligible for some types of loans, there is sometimes a required  minimum credit score without any exceptions. Also, credit scores fluctuate over time and a mere act of applying for credit can possibly lower your credit score.
 

Importance of a High Credit Score
If a buyer is actively in the process of finding a home, the buyer should avoid any new credit cards, consumer loans, financing a car or applying for loans. Lenders look at the credit score to decide how much money they will lend and how much interest they will charge on the loan. That is why the best plan of action is to wait until after buying a home to go shopping for furniture, appliances etc.
 

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