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....Interest Rate and Monthly Payment

  Example: $150K loan borrowed

Your FICO Score /  Your Interest / Your Mo Payment

720-850          5.72%               $872
700-719          5.84%               $884
675-699          6.38%               $936
620-674          7.53%               $1,052
560-619          8.53%               $1,157
500-559          9.29%               $1,238

*illustration purposes only*

 
Posted by Will Addo on 10/15/2007 10:44 PM   Comments (5)   fico score, credit score  
This post has been included in Georgia Information Dekalb County, GA Information Decatur, GA Information
Post is included in group: Atlanta Market

5 Comments on How Your Fico Effects Your Rate

Oh yes, it makes a difference.

10/15/2007 11:26 PM by Bob & Carolin Benjamin - E Phoenix Arizona Real Estate (The Benjamin Team - Keller Williams Integrity First Realty )

Will- There is a great incentive to having the high score. Woundn't you say?

10/15/2007 11:27 PM by Eloise Gift, New Mexico Real Estate (Eloise Gift-Keller Williams)

I would have to agree with you Eloise.

10/15/2007 11:30 PM by Will Addo (Wells Fargo Home Mortgage)

Will,  just a quick question....are these interest rates used for illustration purposes only, as there are no rates like that I have seen (unless of course someone buys it down)?

Yes FICO does play a huge roll in your bottom line interest rate which I think is important for people to know....

Just wondered what you used to calculate those numbers....

Thx, Micki

10/16/2007 12:04 AM by Micki O'Toole, Realtor, Anaheim (Re/Max Real Estate Services)

Hi Micki,

   Yes, this is only for illustration purposes only.

10/16/2007 12:11 AM by Will Addo (Wells Fargo Home Mortgage)

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Loan Officer: Will Addo (Wells Fargo Home Mortgage)
Will Addo
Duluth, GA
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Wells Fargo Home Mortgage

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