SmartMoney Blogs

Real-Time Advice
Our real-time advice on how market shifts and news impact you and your money

The High Cost of Low Credit Scores


Out of all consumer loans, mortgages remain the hardest to get, especially for borrowers with poor credit. Borrowers with scores below 620 are unlikely to qualify, says Ulzheimer.

Lenders say borrowers’ FICO scores are the most important factor in determining whether they’ll get approved for a loan and what their rate will be, though their overall debt compared to income and their down payment size play a role as well.

Borrowers who have FICO scores of at least 760, make a 20% down payment, have a $300,000, 30-year mortgage, and pay one point upfront (that equals one percentage of the mortgage amount) will have average annual percentage rate of 3.3% or about $1,311 per month, according to Informa Research Services. On the other end of the spectrum, those with 620 to 639 scores – if they can get approved — will pay 4.9% on average or $1,587 per month – and annually will pay $3,312 extra per year.



We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 28)

View all Comments »
    • By WebOsPublisher

      Apps under computerized axial tomography Icons ,free icon set,icon collection,(512×512,256×256,128×128,48×48,32×32,24×24,16×16)
      computerized axial tomography Icons – Get it
      computerized axial tomography

      Icons by Category
      Icons Home
      Folder icons
      Transport icons
      Social media icons
      Toolbar icons
      Computer icons
      Android icons
      Iphone icons
      Art icons
      Food drinks icons
      Medical icons
      Animal icons
      System icons
      Business icons
      Application icons
      Object icons
      Tv movie icons
      Sport icons
      Game icons
      Culture icons
      Web icons
      Holidays icons

      Results For "computerized axial tomography"
      Best "computerized axial tomography"
      computerized axial tomography
      computerized axial tomography –
      computerized tomography –
      axial skeleton –
      computerized –
      computerized accounting –
      computerized inventory –
      computerized testing –
      computerized voice –
      computerized battery analyzer –
      computerized inventory system –
      computerized payroll system –
      computerized recipe book –
      computerized sewing machines –
      drums computerized beat free –

      Tape Icon
      My Globe IM Icon
      Filesystems Folder Network Icon
      Planter`s Punch Icon
      Basket Chart Icon
      Anchor Icon
      Xml Grey Icon
      mac app computerized axial tomography
      android app computerized axial tomography
      computerized axial tomography windows
      computerized axial tomography ipad iphone

      Privacy Policy – Terms $ Conditions
      Submit Software –
      Lisisoft Channel
      App-Finder Iphone Ipad
      Android Apps
      Mac Software
      Windows Download
      All downloads
      Books iPad iPhone
      Wallpapers for Mobiles
      Socialize with Us

      Copyright © 2012-
      Generated page in 0.074 seconds

    • Credit scoreS play a very important role in our financial life, good credit score can make this life great, while bad one may bring us lots of inconveniences. That’s why it’s better to start to take care of credit history as only financial life starts. I know some people with a bad credit score and they wrongly assume that once their credit score is damaged then then they can’t do a thing to fix it. It’s very important to be responsible about making payments on loans, because credit score shows the lenders of cash advance how reliable you are. To my mind, it’s never too late to work on a credit score and take advantage of low interest rates and other benefits which are affordable for people with high credit score only.

    • So many Americans do not live within their means. In order to keep up with Joneses, many people bought houses they couldn’t afford so when the recession hit, they lost their homes to foreclosures and had to file bankruptcy. Post-bankruptcy, these people may start thriving if they live within their means.

    • as Christine responded I am stunned that a person able to get paid $4570 in 4 weeks on the computer. have you seen this web link makecash16com

    • If you don’t have the cash to buy a car, you can’t afford it.

About Real-Time Advice

  • How breaking news — in the markets, Washington, and around the world — affects you and your money. Have a question about how current events may change your financial future? Email us at