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How much more in interest does a consumer with a low credit score pay when it comes to a home loan (mortgage)?

Q:

MANAGING CREDIT

QUESTION OF THE DAY

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ngpf.org 10/14/24

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$321 per month or $115,292 over a 30-year mortgage

A:

QUESTION OF THE DAY

Source: Bankrate

MANAGING CREDIT

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FOLLOW-UP QUESTIONS

  1. What do you notice about the relationship between a credit score and the interest rate on a mortgage?
  2. Why do you think that lenders charge different interest rates based on a borrower's credit score?
  3. What do you think is one way to earn a good credit score?