When you have excellent credit, lenders view you as a low-risk borrower, often meaning they offer lower interest rates. Think of it as a VIP discount on borrowed money. For example, if you're buying a $200,000 home with a 30-year mortgage, excellent credit could secure an interest rate of 3.5%, while lower credit might push that rate to 5.5% or higher. #CreditScore #LoanRates #HomeBuying #FinancialTips
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