Why Credit Report Costs Keep Going Up

One small cost in the mortgage process that tends to surprise people is the price of a credit report. I like to be upfront about this because it is not something lenders control, and it does change frequently.

Credit report fees are set by the credit bureaus and reporting agencies, not by loan officers or lenders. Unfortunately, they seem to increase almost every year. To give some real context, the cost of a standard tri-merge credit report last year was $115.30. This year, that same report costs $131.

That increase happens quietly, and many buyers and homeowners are understandably surprised when they see it for the first time. I always want clients to know what to expect so there are no surprises as we move through the process.

The credit report is a required part of underwriting. It allows the lender to verify your credit history, debts, and payment patterns so they can accurately approve and structure your loan. While the cost has gone up, it is still a necessary step in making sure everything is reviewed correctly and responsibly.

My goal is always transparency. I will walk you through every fee upfront and explain why it exists so you feel informed and confident, not caught off guard. If you ever have questions about any part of the loan process or the costs involved, I am always happy to talk it through.