• Basics,  Credit Scores

    The Real Value of Good Credit

    We’ve all seen the television commercials about the importance of knowing one’s credit score. But how much is good credit actually worth?  The answer may surprise you. A low credit score is symptomatic of poor financial habits–habits that can cost you BIG TIME, in addition to any exorbitant interest you may be paying on your monthly credit card bills. How much more could it cost? Let’s say you’re buying a $200,000 house with a 20% down payment. On a 30 year $160,000 mortgage, having a credit score of 650 instead of 750 can cost you nearly $35,000  in additional interest payments over the life of the loan. Check your Credit Report for free The first step to…