Complimentary credit audit, tips and questions

Credit Repair & Financial Advice Blog

A Lower Credit Score Can Cost You A Lot of Money!

[dropcap]M[/dropcap]oney doesn’t grow on trees, so it’s important to have a good credit score. A low credit score hurts your ability to get loans and if approved, your going to pay a higher interest rates! Credit scores are also used for insurance rates, renting and even employment.

A poor credit score can cost you hundreds of thousands of dollars over your life. Enter in your estimated FICO score and a loan amount below to see how much a poor FICO score can cost you on your mortgage or any other loan. If you are a home owner or looking to buy, raising your FICO score is the most important thing for you to do. A better score not only means lower payments, but it can mean a bigger house, the chance to take out more money on a refinance, or even the difference between being able to buy.

Your Credit Score Affects

  • Homeowner’s Insurance
  • Car Insurance Payments
  • Car Loan Payments
  • Personal Loans
  • Mortgage Refinance
  • Job Opportunities

Comparison: Prime  vs. Subprime Loan Costs

 

FICO Term Principle Interest Rate Payment Total Paid Good Credit Saves You
Average Auto Loan
740-850 60 30,000 1.99% 525.70 31,542.09
680-739 60 30,000 4.79% 563.26 33,795.31 2,253.22
620-680 60 30,000 9.99% 637.26 38,235.82 6,693.73
580-619 60 30,000 15.99% 729.38 43,762.94 12,220.85
<618 60 30,000 23.99% 862.86 51,771.89 20,229.80
Best rates as of November 2012

 

FICO Term Principle Interest Rate Payment Total Paid Good Credit Saves You
Average Home Loan SD County, 30-yr fixed
760-850 360 350,000 3.016% 1,478.64 532,308.98
700-759 360 350,000 3.248% 1,522.84 548,221.66 15,912.69
680-699 360 350,000 3.433% 1,558.60 561,094.44 28,785.46
660-679 360 350,000 3.656% 1,602.29 576,825.34 44,516.36
640-659 360 350,000 4.105% 1,692.21 609,195.47 76,886.49
620-639 360 350,000 4.675% 1,809.98 651,591.66 119,282.69
< 619 360 350,000 9.900% 3,045.67 1,096,440.60 564,131.63

 How much is your credit costing you?

 

icon Credit Tools
Credit Tools
icon Pricing
Pricing
icon Reviews
Reviews
icon Call Us
Call Us

Complimentary Credit Audit for New Clients

Individual/Doubles Program

Complimentary Credit Audit for New Clients

Business Credit


🎁 Complimentary Credit Audit
Start Now