Get a LOWER RATE (by simulating your best credit score)
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- Опубліковано 17 чер 2024
- Simulate your credit score: www.scoremaster.com/kyle
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0:00 Does a higher credit score ACTUALLY lower your interest rate?
0:37 LLPA Chart
3:20 Examples
7:19 ScoreBoost
9:24 ScoreBuilder
9:57 Take Action on Score Inaccuracy
10:38 What is the main benefit
11:25 Connect with us!
- DISCLAIMER -
Kyle Andrew Seagraves is Federal Mortgage Loan Originator (NMLS 1701021) licensed in all 50 states with the Dan Frio Team at Allied First Bank (NMLS 203463), an Equal Housing Lender. Separately, Kyle owns Win The House You Love LLC, an education company. Win The House You Love LLC is not a lender, does not issue loan qualifications, and does not extend credit of any kind. This video is only for educational usage. All calculations should be verified independently. This video is not an offer to lend and should not be used directly to make decisions on home offers, purchasing decisions, or loan selections. Not guaranteed to provide accurate results, imply lending terms, qualification amounts, or real estate advice. Seek counsel from a licensed real estate agent, loan originator, financial planner, accountant, and/or attorney for real estate, legal, and/or financial advice. Allied First Bank is not affiliated with the VA, FHA, or any other government agency. This video has not been approved by any government agency.
The dilemma is that what you’re saving in interest by waiting for your score to increase could be negated by the rapid rise in the cost of houses while you’re waiting.
Not too many markets have a "rapid rise in cost" for houses these days. Most are moving the other direction.
You can always jump in now and refinance when you have a higher score
@@israelc5320 never buy a house with that mentality, it's called planning to be ready buy a house, if you credit score isn't up to part, then you didn't plan to buy house, therefore, likely you ain't ready to buy a house.
@@vcuzx I guess that’s good advice but that’s what I did when I was younger and it worked out. Could just be dumb luck.
Thanks for this helpful info Kyle!
Love it thanks for sharing Kyle
thank you for the info
You're welcome Shárę! I'm glad you found the information helpful. If you're interested in starting the pre-qualification process, you can visit www.winthehouseyoulove.com/lender or email me at kyle@winthehouseyoulove.com. Have a great day!
@Win The House You Love i will.. very soon
I needed this so bad. I feel like I’m constantly moving the goalposts on when I’m going to buy and credit score has been one of the areas that has been a burden in that game-not understanding just how much I’d be saving or spending based on credit score increases and decreases. Super helpful video. Thanks. :-)
Just wanna say ScoreMaster is a pretty nice visualization tool. Obviously, you need the money to pay off your cards to get that score boost, but it was pretty darn accurate in what my future score would look like. Started a few months ago and I'm up 35 points now hoping to edge it up more by the end of summer.
Hey Kyle, can you do a video on the pros and cons of a cosigner on a home mortgage? Will having my spouse cosign with me help me get access to better interest rates? At what credit score will it no longer be beneficial?
Thanks!
Hey TJ! Great question! I'd be happy to make a video on the pros and cons of having a co-signer on a mortgage, I’ll add it to my list. To quickly answer your question, interest rates are based on the lowest credit score between 2 applicants. However, having a co-signer on can help lower PMI. 780 is the top of the chart. If you're ready to start on a pre-approval or want to discuss further, head to www.winthehouseyoulove.com/lender or email me at kyle@winthehouseyoulove.com. Take care!
@@WinTheHouseYouLove Thanks for the reply and I look forward to catching the video. Have a great summer!
Great content. I’m a fan. Your calculator shows $190 per month for PMI but PMI is greatly impacted by FICO. I think you need to account for that in your tool.
Thanks Jackson! That calculator is meant for people to enter real quotes, but I'll look into adding a PMI simulator to more accurately project PMI estimates :)
Wouldn’t this just be Vantage score not FICO. My Vantage score is quite high and I pay off my debt monthly so I always have less than 10% utilization but how does that translate to FICO? I can assume my FICO is also high but I’m not sure what the factors are in calculating it.
Thanks, Kyle. This is very informative. I'm wondering for lower credit scores, how come paying more downpayment (15%) has more interest than paying less downpayment (3%).
I cover that move in-depth here: ua-cam.com/video/wRhhZBhYKX0/v-deo.html
@@WinTheHouseYouLove Thank you. I just watched it. I always thought that having a higher downpayment will lead to a lower interest rate. That's why we're aiming for 20% down. If paying 3% gets us a lower interest rate, we might do the interest hack you mentioned in the video. Thank you.
Score Master sure looks like others out there such as SmartCredit. Those score simulators did nothing for me. Also, those scores are Vantage scores, not FICO scores. So, I don't see how that would help.
ScoreMaster and SmartCredit are the same company. Most soft pull scores are Vantage, the goal with credit score tracking is to track the movement of your score, not the exact amount
THAT IS EXACTLY WHERE I AM RIGHT NOW. YOU ARE PSYCHIC 😁
Is this the comment you were mentioning? I don’t delete comments
AND MY OTHER COMMENT WAS DELETED DONT APPRECIATE THAT UNSUBSCRIBING
What? I just replied to your other comment. I don’t delete comments
Bro chill
I think sometimes UA-cam’s algorithm will delete comments sometimes
I’m happy you didn’t run the Biden Tax Rule. Every UA-cam mortgage conservative running with that headline, trying to make Biden look like the mastermind of it all lol.