What Does Better Credit Mean for You?
Perhaps your goal is to purchase or refinance a new home. If you have better credit, you have a better chance to qualify for mortgage financing. In this market, you most likely need a middle credit score of 620-640 just to be able to qualify for mortgage financing.
At some point in your life, you may purchase a house or car on credit. And if you have done this in the past, you know you’ll want the lowest interest rate possible. In terms of a mortgage, a quarter of a percent (0.25%) higher over a 30 year mortgage, could mean paying thousands of dollars more over the course of the mortgage. Essentially, having the highest credit scores will ensure you achieve the lowest interest rates on your mortgage, automobile, and credit cards.
You may or may not have know that most insurance companies check your credit scores when figuring out your insurance premiums.
Employment, Landlords, and More
More and more employers, landlords, and cell phone companies check your credit when they receive your application. In a world driven by your credit score, you need someone who can help you take control of your credit and make sure you reach your goals! Credit Matters is here to help!