Monday, March 11, 2013

Your Credit Score and Your Interest Rate

The better your credit score, the lower your interest rate! With current interest rates, a homebuyer with a FICO score of 760-850 ( and 850 is the highest score available) your loan rate may be 3.277% APR. With a lower score of 620-639 you might expect 4.878% APR. On a 30-year fixed rate mortgage of $150,000 that could be a difference of $139 a month in your mortgage payment. To see how your credit score could effect your loan amount visit www.myfico.com/myfico/creditcentral/loanrates.aspx

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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