Specializing in Grosse Pointe, St. Clair Shores
Harrison and Chesterfield Twp, Harper Woods
Most people don't understand what a credit score can and
cannot do for them. The truth is that a bad credit score can
be costly when financing a home. Credit scores measure the
risk to the creditor, not their credit knowledge amount or attitude.
Typically borrowers with scores above 760 are charged the lowest rates, and those between 700 and 760 are charged a little more. Anything below 700 rates goes up significantly.
Even though you make minimum payments on your account, minimum payments could actually lower your score even when the payments are made on time. Here are a few facts: