Build

It's much easier to start with good habits than to repair black marks later on.                                                                 

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Restore

You are invited to the most effective program available to clear mistakes made by creditors.

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Protect

Once you have obtained excellent credit, it is necessary for you to protect it.                                             

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Your True Credit Savings

Most companies that lend you money will report your activities (on time payments, non-payments, credit lines, etc.) to at least one of the three major credit agencies. These credit agencies are private companies and are not owned by the government. However, these agencies are regulated by federal and state laws.

Your credit score is determined by the following estimated % breakdown:

  • 35% Payment history -- late payments, no payments, etc.
  • 30% Outstanding debt - Total value of your debt outstanding compared to your total credit line available.
  • 15% Length of your credit history - How long have you had credit history
  • 10% Recent inquiries on your credit report - Credit card and other credit applications.
  • 10% Types of credit in use - Credit cars vs. car loans, mortgages, etc.,
Below is a table showing a sampling of possible different score ranges and how they can affect a mortgage payment:

Score Range Rating

Extra Cost per year for
a
300K typical home loan

   
760+Perfect

             $0

How Does Your Credit Score Stack Up

700-759

Excellent

            $432

660-699

Average

            $888

640-659

Fair

           $2400

620-639

Low

           $3600

   

 

With the Mortgage Calculator, you can calculate your payments based upon the interest rates & loan amount you enter. You can enter a range of interest rates and loan values that will allow you to compare different payments.

Enter values in the fields to your right to find out how much the total monthly payment would be with the given number of payments, interest rate, and amount of the loan.