Jul 201626

Mortgage Rates: Why Credit Scores are Important

When it comes to applying for a mortgage, lenders want to know that the borrower has a reliable history of using and repaying credit. Lenders use FICO scores, which range from 300 to 900, as a benchmark for determining this reliability.

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When it comes to applying for a mortgage, lenders want to know that the borrower has a reliable history of using and repaying credit. Lenders use FICO scores, which range from 300 to 900, as a benchmark for determining this reliability.

Jul 201621

The Impact of Credit Scores on Insurance Premiums

From an applicant’s credit history, the insurance company will establish their “insurance score” and then compare them to other clients with similar profiles. This helps companies anticipate what claims these clients may make and predict the potential cost of those claims.

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From an applicant’s credit history, the insurance company will establish their “insurance score” and then compare them to other clients with similar profiles. This helps companies anticipate what claims these clients may make and predict the potential cost of those claims.