Mathematics

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7 March, 16:08

Mortgage lenders base the mortgage interest rate they offer you on your credit rating. This makes it financially critical to maintain a credit score of 740 or higher. How much more interest would you pay on a $195,000 home if you put 20% down and financed the balance with a 30-year mortgage at 6% compared to a 30-year mortgage at 3 1/2%?

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