5. Your FICO score is a big factor in determining the interest rate you will be awarded on your mortgage loan. Examples shown in the table below are from March of 2015 on a

$300,000, 30-year mortgage. The difference between an excellent and a poor FICO score will cost you more than

$278/month or $100,080 in interest paid over the life of the loan.

Your FICO Score

(range)

Your APR Monthly Payment 760–850 Excellent 3.373% $1,326 700–759 680–699 Good 3.595%

3.772%

$1,363

$1,393 660–679 640–659 Fair 3.966%

4.416%

$1,430

$1,505 620–639 Poor 4.962% $1,604