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Credit Scores Affect Your Rate More Than Ever; What To Do? “What If”

Credit Scores affect rates, points and qualifications more than ever before. Below is a small sample of how much different credit scores affect the “points” at one of our better lenders for an 80% Loan-to-Value Loan:

720-740: Additional 0.25 Points

700-719: Additional 0.75 Points

680-699: Additional 1.5 Points

660-279: Additional 2.5 Points

We address this time and again b/c we get shocked responses when we tell our buyers why their rates or points are so much higher than our quoted “best” rate.

Our suggestion is to always run credit as soon as possible in the pre-approval process. If scores are low, we can do a “What If” analysis with our credit repair software program to advise the best/easiest way to raise a credit score. It is often far easier to raise a score than most people realize.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167