| It can be quite a disappointing feeling to find out that | | | | minor things you can do to bring boost your score by |
| you are having trouble getting approved for a low | | | | a few points. After all, 75 percent of all credit reports |
| credit score loan. Unfortunately, by the time someone | | | | contain erroneous information, and you have the right |
| goes to get a loan they realize just how important | | | | to have accurate representation of your |
| maintaining a clean credit history is. As an example, | | | | creditworthiness. |
| let's say you have to purchase a $200,000 home on a | | | | But low credit won't just hurt you from securing a loan. |
| 30 year fixed mortgage at 8% interest instead of 6% | | | | There are other areas that you may be affected by. |
| (because of your credit score). That extra 2% is going | | | | Your auto insurance, homeowners insurance, life and |
| to end up costing you a total of $96,934.11 over the | | | | health insurance, and even employers nay request to |
| term of the low credit score loan. That means your | | | | review your credit report and in order to determine |
| house will cost you 1.5x what you actually agreed to | | | | how reliable and likely you are to stick to your end of |
| pay for it! | | | | the bargain. |
| Wouldn't it make sense before you go to apply for | | | | Reviewing your credit report regularly and knowing |
| your loan if you took just a few minutes to review | | | | how to defend your right to be fairly represented is an |
| your credit report and do just a few quick things to | | | | important habit you should develop. It can save you |
| increase your credit score? Even if you think you have | | | | thousands of dollars that a low credit score loan would |
| perfect a perfect rating, chances are there are some | | | | otherwise cost you. |