In today’s economy, credit is an important factor of most people’s lives, whether that it’s a mortgage, car loans, or a credit card. Hence, maintaining a great credit score is highly important. A bad credit score can cost thousands of dollars every year in overpaid interest, which can and will directly affect your financial freedom and become a burden.
The chart below shows the cost of good/mild and bad credit on a mortgage interest rate.
$250,000 home paid over 30 years:
CREDIT STATUS RATE PAYMENT COST OF BAD CREDIT
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