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Our
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How are FICO scores calculated What a better score can save you Why Avoid Credit Repair Specialists Most Lenders don't know or care Bonus e-Book Worth a Small Fortune Order Your e-Book Now! OR
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WHAT A BETTER SCORE CAN SAVE YOU To prove the undeniable power of your FICO score, we will highlight a basic scenario on a simple 30 year fixed rate mortgage. We will assume a purchase price of $265,000.00, with a down payment of 5% ($13,250.00), leaving an amount to finance of $251,750.00. Below is a table which shows approximate mortgage rates based on your FICO score.
Note: Although I pulled these numbers off a FICO score site, we do not believe you would qualify for a mortgage with a FICO score lower than 560. Perhaps if you had 20% or 30% to use as a down payment, but honestly - who has that type of money? On the above scenario the down payment would have to be between $53,000 and 79,500.00! OK- Now let's assume that you were able to buy this house with a FICO score of 560-619 with 5% down. Here is what you would save in interest charges if you had a higher FICO score.
The power of your credit report and credit history along with your FICO score is pretty scary, isn't it. If your like us, you could find this out when it's almost too late and need to make some changes quickly to avoid paying a small fortune in additional interest. That's why our e-Book is such an important weapon to have in your arsenal. This works the same for an auto loan, a refinance, a personal loan, etc.
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