What Does Bad Credit Cost You?

It could cost you quite a bit.  Quite a bit more in interest that is. . . for example, let's say you had a credit score of 539 and were applying for a $250,000 mortgage.  Below is an example of how your score would affect your monthly payments:

If your FICO score was 539, you might qualify for a mortgage with an interest rate of 9.734%.  Your monthly payment would be approximately $2,722.36.

If your FICO score was 639, you might qualify for a mortgage with an interest rate of 7.879% and your monthly payment would be $2,335.90. 

                                      That is a savings of $386.46 per month and $139,125.00 in interest savings

                                      over the life of the loan.

                                      What would you do with an extra $139,125?  Even with a 20 point FICO increase you could save

                                      $20,250.00 over the life of the loan.  If you had the money instead of your lenders you'd be living a

                                      better life right now and providing a better life for your family.  You deserve to have the absolute best

                                      credit score available to you.

                                      What would you do with an extra $139,125.00?

                                            You could buy the house of your dreams for less money than you are paying now!
                                            You could buy a new car (actually several new cars)!!
                                            You could start your own business and take control of your future!
                                            You could take the vacation of a lifetime!
                                            You could invest in real estate!
                                            You could save for retirement!
                                            You could pay for your children's college!

                                            You could just stop worrying about money all the time and get a good nights sleep.  Knowing

                                            every night that you and your family are financially secure.

             Call us today for a consultation (843) 251-7463