How Mortgage Credit Score Affects — Berkshire Lending

When it comes to your mortgage payment your credit score can affect your interest rate and your homeowner's insurance rate. There is another part of your payment that is also affected by your credit score… Your mortgage insurance payment on Conventional loans.
Let me give you some examples of how your mortgage insurance rates can vary due to your credit score. These numbers are based on a $100,000 loan at a 95% loan to value ratio. MI Payment Chart… Credit Score Range MI Payment Amount > 760 = $45 720 to 759 =$51.6 680 to 719 =$74.17 620 to 679 =$95.83 The lesson here is to protect and monitor your credit as much as you can. Keeping your scores up can save you a lot of money! That’s it for today! For more information please visit our website |Berkshire Lending|

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