A low credit score hurts your ability to get loans, and raises the cost of credit when you can get it. 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. 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 can mean a bigger house, the chance to take out more money on a re-fi, or even the difference between being able to buy.
To the right is an example of how a low credit score can affect how much you pay and/or save over the life of a regular mortgage.
If you raised your FICO score around 60 points you would see your monthly payment drop to $2619.70.
That would be a savings of $321.07 every month.
This would result in a savings over the life of the loan of $115,586.11
Even if you only raised your FICO score a mere 20 points, your savings over the loan term would be $84,463.57!!
Call us at 484-366-1753 for a free consultation to see if you qualify for our program…you have nothing to lose!
Or Contact us via email here.
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