Living In Santa Clarita

Tidbits on Santa Clarita

How your credit score affects your mortgage rate

Michael Feicco – Dilbeck Real Living

How does your credit score affect your mortgage rate? Great Question!

When in conversation about real estate people seem to always ask me, “what’s the interest rate at now?” “What’s the best rate I can get?”.

Well it all depends on your credit score. How “risky” are you to the institution lending you the money.

A really easy example I use is if you lend your next door neighbor money and they never pay you back then would you want to lend them money again? If they paid you back in a week would you be more inclined to lend them money next time they ask?

John Yang, a mortgage consultant explains this in greater detail on his video using the same system all mortgage people use.

Click below to watch the video.  If you have any questions you can call John or myself. Enjoy the video!

Michael Feicco – Dilbeck Real Living

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