$127 Thousand Dollars

What's your credit score? A median of 723 means half the people fall below that score and half have scores higher.

Here's a breakdown of where most people fall:

300-499 = 2 % of the population
500-549 = 5 %
550-599 = 8 %
600-649 = 12 %
650-699 = 15 %
700-749 = 18 %
750-799 = 27 %
over 800 = 13 %

Let's say you want a $200k, 30 year fixed mortgage. Here's what would happen to you financially...based on your score:

Between 720 - 850: you could get a 5.922 percent rate. the monthly payment would be about $1,189 a month and $228,072 in interest over the life of the loan.

Between 675-699: you could get a 6.584 rate, around $1,275 a month, with $259,074 in interest or $31,002 more.

Betwen 620-674: you're looking at a 7.734 percent rate, paying $1,431 per month, and $315,021 in interest.

Between 560-619: you'll get a 8.531 percent rate, pay $1,542 per month and $355,200 in interest.

The difference in interest paid over the life of the loan between the highest and lowest score is is more than $127,000.

YIKES!

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Suppose you're 22

you buy $1,000 worth of stuff on a credit card with a typical 19% interest rate.

If you pay $20 every month, you'll be over 30 by the time you pay off that debt.

And....you'll have paid an extra $1,000 in interest. And that's if you never charge anything else on that card again.

Imagine what's happening on 5k, 10k, 20k or more in debt right now.

www.debthelper.com can help you figure this out.

Real Estate Investment Tips: New Website Launched for Consumer Finance and Education

Real Estate Investment Tips: New Website Launched for Consumer Finance and Education

Hey, we'd like for you to check out the site and our blog.

Site: www.debthelper.com

Blog: http://creditcardmanagementservices.blogspot.com

Why do people

Why do people pay off unsecured debt with secured debt. Do they not know that the equity of their house decreases every time they do this?


We can help you figure all of this out at www.debthelper.com