Blue Credit Shield

Rock Credit Services

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How Much is Poor Credit Costing You?

As you increase your credit score, you'll qualify for lower interest rates. This means that you pay less to borrow the same amount, resulting in a savings to you. For example, the following chart shows what interest rate and monthly payment you could expect to pay on a $150,000.00 30-year fixed-rate mortgage:

 Credit Score

Intrest Rate 

Monthly Payment

Total Intrestet Paid 

 720-850

 5.57%

 $858

 $158,880

 700-719

 5.69%

 $870

 $163,200

 675-699

 6.23%

 $922

 $181,920

 620-674

 7.38%

 $1.037

 $223,320

 560-619

 8.53%

 $1,157

 $266,520

 500-559

 9.29%

 $1,238

 $295,680

Your monthly payment can fluctuate by 30 percent, just based upon your credit score alone! More importantly, the total amount of interest paid throughout the term of the loan can fluctuate by as much as 50 percent. In the above example, a borrower with a credit score in the 500-559 range can expect to pay up to $130,000.00 more in interest than a borrower in the 720-850 range over the same 30-year term. Don't be a victim of an inaccurate credit score. Let us help you repair your credit and start saving money now!

If you would like to see how your score could affect the interest you may have to pay on potential loans, try our online calculator below.

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