Having Great Credit Can Save You Thousands EVERY YEAR.
Your credit is so important and being careless with it will bite you in the behind, as it takes money from your wallet. When you’re young, it is easy to not realize the financial power and leverage that having good credit brings, or how much it will matter later on to you and your family. Good credit will save you thousands, upon thousands of dollars.
Raising your credit score to 700+ can change your life and lifestyle. And, after you realize how much money you just stopped from leaking out of your pockets, your only regret may be not finding a solid reputable credit restoration program much sooner.
Lower Interest Rates
Banks reserve great interest rates for people who prove they can manage their money. How do you prove it? Your credit file.
You the Home Owner
A better interest rate on your mortgage will give you a huge amount of savings. Those with a high credit score enjoy a much lower interest rate which gives them a much lower monthly payment, which means more house for you, at a lower price. The high credit score endowed may live in a huge house, but be paying less than someone living in a 2 or 3 bedroom apartment.
Most times people who have low credit scores can’t get a mortgage at all in order to buy their own little piece of the American Dream. More than likely, if they ever do buy a house, it will involve a risky owners contract, with a substantial down payment, and possible large balloon payments down the road, which normally lead to financial ruin.
Think about what you can do with all that extra cash – spend it on your family, entertainment, open a small business or another investment. The bottom line is having lower monthly payments may also mean that you can pay off your home loan sooner and save even more money.
You can Qualify For A Much Lower Down Payment
Getting a lower interest rate on a loan also means that you will also be able to enjoy a lower down payment.
Let’s see… more house, less down, and lower payments. Sound good?
What about Cars
A high credit score will also get you a better interest rate when you apply for an auto loan. You could qualify for a better car as well. A low credit score will likely mean a smaller loan, a higher price, an older car, and less time to repay it.
Better Options For the Renter
When you go to rent a house or apartment, landlords will want to take a look at your credit. If it’s low, they may not rent to you at all. It is an owners market these days, and so many people have no other choice but to rent which allows owners to be picky. If they do rent to you they will most likely require you to make extra payments or require you to get a co-signer. This could limit your ability to get comfortable housing. A less than desirable neighborhood in an older or even run-down apartment complex may turn into your best/worst option.
Think about Credit Restoration before you make a major purchase. Plan ahead, and start ASAP, while paying down credit card debts, review and understand your credit score and speak to a Credit Specialist with a solid yet affordable Credit Restoration Program where he or she can analyze your credit report and tell you what the “score” is. 😉
EditMyCredit.Net – The Forensic Credit Restoration Company.
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