The median price of a home in Los Angeles County is $616,000 according to Zillow. Using the Google Mortgage Calculator after putting a 20% down payments for a home, find the down payment, total cost of the mortgage/loan, monthly payment, and total interest paid in the following scenarios:
a. 3.625% fixed interest rate, 15 yrs
b. 3.652% fixed interest rate, 15 yrs
c. 4.250% fixed interest rate, 30 yrs
d. 4.475% fixed interest rate, 30 yrs
1. What is a bad, fair, good, and excellent credit score?
2. What are the 3 major credit bureaus?
3. What are 3 ways that your credit score affects your life?
4. What 2 others things do lenders look at besides credit score?