With this portion of the website, we have laid out the costs associated with having excellent credit, fair credit, and bad credit. Although it is easy for us to calculate, it is difficult to look at the amount of money wasted due to bad credit. Please note, as interest rates rise, the numbers listed below go up.

Home Morgage

The numbers below are based upon having an outstanding mortgage of $225,000, with a LTV (Loan to Value) of 80 - 85%.  As you can see, poor credit will cost you tens of thousands of dollars over time. These numbers are based on rate and payment, mortgage fees and points not included.

credit score	rate	monthly payment	cost of bad credit	30 year cost
70 0- 850	5.50%	$1031.25	$0	$0
620 - 699	7%	$1312.50	$281.25	$101,250.00
500 - 619	8.75%	$1770.08	$738.83	$265,978,80

Automobile Financing

Let's take a look at the financing of an automobile.  Low automobile payments are extremely important considering the inflated gas prices.  The numbers below are based upon a loan amount of $15,000 with a 60 month term.

Having a good car loan is very important, especially because an automobile is a depreciating asset. Being "upside down" or owing more money than the car is worth is EXTREMELY costly and upsetting.

credit score	rate	monthly payment	monthly cost of bad credit	total cost of bad credit over 5 years
700 - 850	5.50%	$286.52	$0	$0
620 - 699	10%	$318.71	$32.19	$1931.40
500 - 619	15%	$356.83	$70.31	$4,218.60

The examples above show the costs of making a major purchase with less than perfect credit. A couple of percentage points in interest can be the difference between barely surviving and living comfortable. We have the solution to living comfortable.

Credit Card Payments

Below is an illustration consisting of $8,000 in credit card debt. We have included a simulated commitment of $175.00 per month. Please understand the difficult position you are putting yourself in, when dealing with fair and poor credit.

credit score	rate	monthly payment	total cost of bad credit	extra time required to pay debt
700 - 850	8%	$175	$0	None
620 - 699	15%	$175	$5070.00	29 Months
500 - 619	21%	$175	Infinity	Infinity

Without the proper budget management, you may find yourself in a hole of debt. Digging yourself out while paying outrageous interest rates will be difficult, if not impossible. Our company will provide a helping hand, and pull you from the depths of debt and into the warmth of financial security.