How a Low Credit Score Can Cost You
Factoring in consumers credit scores has made its way into virtually every aspect of our lives and dictates accordingly. A low credit score affects your ability to get financing as well as raises the cost of the credit when you do get it. Additionally, credit scores are also used to determine consumer insurance rates, renting abilities, and even employment opportunities.
Bad credit can ultimately cost you hundreds of thousands of dollars over your lifetime. To illustrate how much your credit could be costing you, use the simulator below and enter in a FICO score and loan amount to see how much bad credit can cost on just your mortgage alone. If you are a current home owner or looking to buy, raising your FICO score is the most important thing for you to do in the immediate future, as your credit score determines when and if you can qualify for a mortgage. Additionally, a higher credit score means lower payments, better loan programs, the ability to take advantage of home equity loans and other various home buying opportunities.
Mortgage Savings Calculator
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FICO Score (3 digits) Principal (only numbers) |
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Your Credit Score Affects
- Homeowners Insurance
- Car Insurance Payments
- Auto Loans
- Personal Loans
- Mortgages
- Job Opportunities
RE Credit Fix, LLC is Certified as a Credit Expert by CreditCRM, the nation's leader in credit certification.