I bought a home a few months ago. How do I update my status to homeowner?
Congratulations on your home purchase! Your credit report does not state explicitly that you are or are not a homeowner. However, if you obtained a mortgage loan in order to finance your home, and the company you are using reports to Experian, the mortgage account will appear on your credit report as a home loan. Having a mortgage loan on your report can help you build a strong credit history and can boost your credit scores.
If you have checked a current copy of your credit report and do not yet see the loan reported, contact the creditor directly to verify that they report to Experian or to any of the credit reporting agencies. Keep in mind that accounts are not typically reported until after the first payment is due, which can be 30 to 45 days after the account is opened.
Thanks for asking.
- The “Ask Experian” team