Your Subtitle text
cost of waiting

There is a price to pay for having less than perfect credit and that price is reflected in down payments and interest rates. Those with credit issues have to pay higher down payments and/or interest rates. They end up paying more for the same item or service than those who have good credit.

Below is a chart to help you illustrate the money you save by having good credit.

Example: $20,000 Car/5-year term


Credit Type Interest Rates Monthly Payments Total
Bad 15% $475.80 $28,548
Good 5% $376.60 $22,656
Cost to you 10% $102.20 $5,892

As you can see, the difference is substantial. Just imagine what you can do with the extra $5,892 that you save over the life of the loan. This is a conservative comparison. With incentives and special interest rates, the savings can be ever more.

Now lets take a look at good v. bad in regards to buying something more substantial: a home.

Example: $125,000/ 30-year term, fixed-fate mortgage:


Credit Type

Interest Rates

Monthly Payments


Bad 10%
Good  6% $750 $270,000
Cost to you 4% $347 $125,100


Once again the savings are substantial. The money you save by having good credit and a lower interest rate is more than the original cost of the house! Again, this is a conservative comparison and does not mention any money that may be required for a down payment. Bad credit may require up to 20% of the loan amount as a down payment versus 5% or zero down with good credit.

At KB Financial Solutions we will help you get those lower interest rates. Call at (817) 371-3495 or email us at 
kim@kbfinancialsolutions.com or kbfinancialsolutions@yahoo.com today to get started. 


KB Financial Solutions BBB Business Review

                                                                                                          KB Financial Solutions
1607 Chretien Point Dr, Mansfield, TX. 76063
                                                                                                              (817) 371 - 3495
KB Financial Solutions can help you to: Improve Your Credit,  Help Rebuild Your Credit,                                                               Stop Creditor Harassment, and Finance Your Home Loans
Website Builder