5.5.2 Quiz: Credit Scores Question 7 of 10
The most Brendan can afford to pay per year in mortgage payments is
$10,500, and his credit score is currently 544. According to the following table
for a $150,000 mortgage, by how many points would he need to improve his
credit score in order to take a mortgage for $150,000?
FICO
score
720-850
Interest
rate
5.59%
Monthly
payment
$860
$872
$924
700-719
5.71%
6.2596
7.40%
$1039
675-699
620-674
560-619
500-559
8.53%
9.2996
$1157
$1238
A
156 points