Why having good credit could cost you more on a home mortgage
If you have an excellent credit score, you'll still pay less than if you have a less than favorable one. But the penalty for having a lower credit score will now be smaller. As an example a buyer with a good credit score of 750 who puts down 25% on a $400,000 home would now pay 0.375% in fees on a 30-year loan, or $1,125, compared to 0.250%, or $750, under the previous fee rules.
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Quote of the month
"Be bold enough to use your voice, brave enough to listen to your heart, and strong enough to live the life you've always imaged."- Anonymous
Vendor of the month
Jane Iwata | Vice President | Branch Manager
Old Republic Title- Kahala branch
jiwata@ortc.com | ortc.com
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