Repair Credit

Start To Repair Credit Today. Why?

Credit repair is an important subject when it comes to your personal life, marital relationships and buying houses particularly when it comes to traditional lender financing. It really boils down to this:

Not doing it costs you money.

If you have a fico ® score over 720, you'll save a heck of a lot of money in interest over the course of your adult life.

How much does a bad credit score cost you?

Most people gauge the type of house they have based on how much payment they can afford every month. The same is true for car payments and big ticket items around the house.

Even if you do qualify but have a low credit score you can buy more house with the same monthly payments, when you qualify for a lower interest rate.

It turns out that there are a lot of other reasons - besides houses - why a bad credit score hurts you financially.

House Buying Examples

You pay more in interest with a lower fico score ®.

In the following house buying examples, we'll use the figures of 6.18% interest rate for a 720-850 fico range and 9.29% interest rate for a 500-559 fico range. Assume that we are talking about buying a cute little 2 bedroom, 1 bath house in a great neighborhood, like the one in this pictrure.

Depending where you live, you could pay $100K, $150K or $200K for that same house. In different neighborhoods of Seattle - or the SF bay area - you could pay $450K to $580K in today's market.

The point is: the higher the price, the more the cost of interest affects you.

$100,000 principal amount for 30 years

Suppose your existing fico score ® is in the 500-559 range. You only qualify for a bad credit mortgage loan, or sub prime. At ~9.29%, that would make your monthly payment ~$826.

If you had a 720+ fico, that payment would drop to the $611. That represents a total savings in interest over the term of the loan of about $77,253 for the same house - plus a monthly cash savings of over $215.

That means you will pay $197,181 over 30 years instead of $119,928 for the same loan amount.

$150,000 principal for 30 years

The payments are $1238 and $916 respectively, a savings of $322 a month with a 720+ and a total savings of over $115,879.00 in interest.

$200,000 principal for 30 years

The monthly payments are $1561 versus $1222 with an overall net savings of $154,505. An that's just interest on your house payments - not including high interest credit cards.

What could you do during the same time period with $154K savings and the additional $400 a month cash flow? You could have bought and paid for another house with the same money - that's what.

The good news is that you can fix a bad credit score.

Sell My House Fast

If you're thinking, 'I need to sell my home fast' - more than likely there are some credit issues in your life. And most of us have been - or will be - in a similar situation because things happen that we don't anticipate.

The good news is that you can fix a bad credit score. But you have to start.

Keep reading for more info about your credit score and where to get started.