Were you aware that your credit score can effect the amount of mortgage insurance you pay on Conventional loans?
Here is an example of how your mortgage insurance rates can vary due to credit score.
These numbers are based on a $100,000 loan at 95% loan to value ratio.
MI Payment Chart…
| Credit Score Range | MI Payment Amount |
| > 760 | $45 |
| 720 to 759 | $51.6 |
| 680 to 719 | $74.17 |
| 620 to 679 | $95.83 |
The lesson here is protect and monitor your credit as much as you can. Keeping your scores up can save you alot of money!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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