Your credit report is an on going look at how you manage your finances. These reports play an important role in the mortgage approval process and determine what you ultimately will be approved for. Knowing what is in your credit report is the first step in the home buying process.
Determining what amount of money and from what source (ie: savings, investments, stocks, etc) you will have on hand to put toward your purchase is paramount - is the money easily accessible or will it take some time to obtain and have it on hand.
What are your current expenses, do you have money every month to save or does everything go to expenses including credit cards, cars, loans etc.
Many on-line firms exist for you to start your research. They can provide you with a copy of your current credit report and give instructions on how to deal with any inaccuracies.