04/12/2018
Folks, this is why you need a better credit score.
Most banks WILL give a loan to someone with 500+ credit score. The question to the client should be...
"Do you want to pay for a loan with a 500+ credit score, or do you want to pay for a loan that goes with a 700+ credit score?"
BUT, most people do not understand loan % that go with a 30-yr mortgage. Low credit score mean higher monthly payments, high credit score is low monthly payments.
Obtaining a loan with a low credit score is "financial crack" offered by banks, lenders and creditors. It is literally poison for you.