eugenehomesgalcom: Karen J. Church, of RE/MAX Integrity in Eugene, Oregon: Know your Credit Score Part 4
- 10/01/09 06:33 PM
Karen Church, your "Go To" gal at RE/MAX Integrity at www.eugenehomesgal.com discusses the question of "How does a low credit score affect my interest rate?"
Lenders estimate the ability to pay back money based on a credit score. The rick factor they take on is built in to your interest rate as a financing fee. There for a low credit score results in a higher interest rate, higher monthly fees, and a higher amount of interest being paid over the total life of the loan.
A borrower with a credit score of 620 would be questionable to an underwriter. While the (0 comments)
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