3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,
Dated: October 20 2022
Views: 176

It’s easy to ignore your credit score. After all, it’s not something that often comes up in daily life. But, it’s important to check yours sooner than later if you’re considering buying a house. Why? Well, according to one new analysis, it could save you money. Your credit score is among the factors determining your mortgage rate, which determines how much your monthly mortgage payment will be. A better credit score will get you a lower rate and a smaller mortgage bill, saving you thousands of dollars over the life of your loan. The data showed that a borrower with a credit score between 760 and 850 would pay nearly $300 a month less than a borrower with a score below 640 for the same house.
Over the life of a 30-year fixed-rate loan, that adds up to just over $100,000. In other words, a lot of money. That’s why buyers need to check their credit scores early in the home buying process. Knowing your score and fixing any errors on your credit report can save you a lot of money on your mortgage.
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Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....
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