Credit score refers to a numeric value based on individual’s income’s statistical analysis showing the credentials of the person. This credit history report can be easily demanded from the credit bureau or credit reference agency. These organizations collect reports of the individual’s debts and bill paying habits from various sources to assess the credit worthiness of the borrower and to make a rough estimate about the bill repay affordability of the borrower. The one with good credit score will have to pay lesser rate of interest on the mortgage loans than the one with bad credit history as the one with poor credentials (has not paid tax, bankrupt) is considered under higher risk. These credit reports can be get free of cost once in a year and it is usually advised to review these reports properly prior to applying for the loan for any inaccuracies. Any discrepancy or irrelevant information or inaccurate information should be corrected as soon as possible as they may put a negative impact on the lender and thus can even leading to rejection or cancellation of the mortgage loans. Any debt if taken should be paid - off to improve the credit score and also it builds the faith of the lender in the borrower.