mollyMarieMaguire

QUESTION OF THE DAY

Question of the Day: How much more in interest does a consumer with a low credit score pay when it comes to a home loan (mortgage)?

It’s why managing your credit score is so important and the lesson on credit scores could be worth six figures in savings. 

Answer: $312 per month or $112,241 over a 30 year period (typical term for a home loan) which is the difference between the highest credit score (760-850) and the lowest (620-639). Click on image to visit interactive. Estimate Your Loan Savings Using Credit Score Calculator (myfico.com)

Data as of 3/6/23:

Note: Assumes a thirty year fixed rate mortgage for $286,400 

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