The Math is Simple
Your credit will determine the cost of every dollar you borrow. The math is simple. The higher your credit scores the lower your interest rates. Let’s take a look at some of the potential financial benefits of credit repair.
Every Point Matters
Here are the potential effects of a 100 point improvement in your credit scores. The following figures are from Fair Isaac Corporation and based on national averages.
- If you have a $300,000 mortgage, a 100 point improvement in your scores will save you $264 per month.
- If you have a $25,000 automobile loan, a 100 point improvement in your scores will save you $65 per month.
- Together your combined monthly savings equals $329.
Let’s Multiply
If you were to invest your $329 monthly savings into an account earning 5% per year for the next ten years you would accumulate $51,000. And over 20 years it would grow to $135,000.
And There’s More
The real financial benefits of credit repair go well beyond your mortgage and auto loan to include your credit cards and other consumer debt, not to mention the potential impact on employment and insurance. It adds up. Are you ready to learn more?