Posted on: 16th Oct, 2007 09:49 pm
Your credit now affects A LOT MORE than just your ability to get financing to buy investment properties as well as a home for yourself.
Did you know that unless you have a stellar credit you're GROSSLY overpaying for:
--> Interest charges on Real Estate
--> Origination fees and points on real estate loans
--> Interest charges on car loans and other consumer loans
--> Almost all types of insurance premiums, including real estate, auto, health, etc.
--> Getting utilities services to your home and rental properties
--> Getting cell phones and cable service, etc., etc.
What's more, your credit actually impacts many other areas of your life you likely haven't even suspected.
Obtaining employment, qualifying for pay raises and career promotions and a number of other significant for you opportunities are now at risk of being declined based on your credit score.
In fact, even if you have a PERFECT credit and using it to buy investment properties, your credit score could drop from 750 down to 650 overnight... as a result of you shopping for a better interest rate on your loan and getting a few inquiries added to your report.
Did you know that unless you have a stellar credit you're GROSSLY overpaying for:
--> Interest charges on Real Estate
--> Origination fees and points on real estate loans
--> Interest charges on car loans and other consumer loans
--> Almost all types of insurance premiums, including real estate, auto, health, etc.
--> Getting utilities services to your home and rental properties
--> Getting cell phones and cable service, etc., etc.
What's more, your credit actually impacts many other areas of your life you likely haven't even suspected.
Obtaining employment, qualifying for pay raises and career promotions and a number of other significant for you opportunities are now at risk of being declined based on your credit score.
In fact, even if you have a PERFECT credit and using it to buy investment properties, your credit score could drop from 750 down to 650 overnight... as a result of you shopping for a better interest rate on your loan and getting a few inquiries added to your report.
Yeah Willis, it does help one if he has a good credit score. The effects of bad credit are wide and far reaching. It can stop you from getting a great job or else it might even not allow you to rent an apartment, forget about getting a loan.