Please note that a 0.5% difference in an interest rate means a higher payment of $67 per month on a $200,000 loan. You would save $804 annually by lowering the interest rate by 0.5%. Or you could save $2412 annually by lowering the rate by 1.5%. That is $72000 over the life of the loan.

For the loan amount of $400K the savings would be over $140K over the life of the loan!

TIPS:
· Pay your bills on time increases your credit score.
· The longer you pay your bills on time, the better your score.
· Delinquent payments and collections have major impact on your score.
· Paying off collection account will not remove it from your credit report.
· Collection records will stay on your credit report for seven years.

· Learn your rights under the Fair Credit Reporting Act.
· Call credit bureau companies to resolve a reporting dispute.
· Write dispute letters to credit companies to correct errors in your credit report.
· If you are having trouble, contact your creditors or see a credit counselor.

· Keep balances low on credit cards and other ?revolving credit?.
· Increase your credit limit, rather than getting new credit cards.
· High outstanding debt can affect your score.
· Pay off debt rather than moving it around.

· Do not open a lot of new accounts too rapidly.
· Opening new accounts and paying them off on time will raise your score.
· Do your rate shopping for a given loan within a focused period of time.
· Credit inquiries can lower your credit score.
· It is OK to check your credit score as long as you order your credit report directly from the credit report agency.
· FICO scores distinguish between a search for a single loan and a search for many new credit lines.

· Have credit cards but manage them responsibly.
· Closing an account does not make it go away.
· A closed account will show up on your credit report for 7 years.
· Re-establish your credit history if you have had problems.

Please note that raising your credit score takes time and there is no quick fix.

We can not justify the worthiness of many credit repair companies. Don't be a victim of these rip-offs. You can teach yourself how to easily repair and/or dispute your credit report errors and issues and increase your credit score.