Using a house payment calculator is a wonderful tool that lets you know what you will pay for a mortgage loan. It is also beneficial to use as you are going through the credit repair process.
Depending on the interest rate, not only can your payments vary but also the dollar amount in interest over the life of the loan.
Since we are talking about credit repair, let’s take the example of the difference you might pay with a higher interest rate versus a lower interest rate.
Go ahead, try the home mortgage loan payment calculator out for yourself and compare a couple of different scenarios. You will quickly see that poor credit is costing you thousands of dollars.
So if might well be worth investing in a credit repair firm to help you with credit repair, as it has the potential to save you thousands.
Here is an example below. For the $175,00 home with bad credit, your monthly payment is $1535, while the $250,000home with good credit is only $1392.That is a savings of $143 per month.
However, over the course of the loan period, you would be paying about $70,000 less with good credit and a nicer home.
When you are ready to get serious about employing a reputable repair agency, you might initially think about how much they cost but when you look at how much a better credit standing can save you, they are will worth the cost.
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