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What's An Excellent Credit Score? - A New Loan Love Guide Provides The Answer

SAN DIEGO, Jan. 17, 2014 /PRNewswire-iReach/ -- is a borrowers advice website that focuses on providing in-depth information that even the most experienced home owners can learn from, in an easy-to-understand and even entertaining way so that first-time home buyers can also benefit. A recent article featured on the website continues to help borrowers to obtain loans they will love by answering the question "What's an excellent credit score?" and giving tips on how to improve credit in order to benefit from lower loan rates.

The Loan Love guide starts off by saying, "Having a less-than-stellar credit score can become problematic in a variety of ways. For example, it can make getting a loan difficult in addition to making it hard to rent an apartment and expensive to buy car insurance. Not to mention the fact that some employers take your credit rating into account when considering you for a job. Therefore, having an excellent credit rating is important. To learn more about credit ratings, what's a good one and how to raise yours, continue reading below."

The article then briefly explains what a credit score is and why it is important, especially for those who are attempting to get a good home loan approved. The article says, "You may wonder how much of an impact your credit score can have on your life. In short, your credit score can greatly impact many aspects of your life. For example, a good credit score will mean you qualify for the best loans in regards to interests rates and loan terms."

Loan Love then lists the different credit score brackets and what they mean for those applying for a loan. The list is as follows:

•    "Credit score below 620: A credit score of 620 or lower places you in the "sub-prime" borrower category. If you are considered a sub-prime borrower, you will likely pay 3 percent more on a mortgage loan than someone with excellent credit and will likely pay double-digit interest rates on a home equity loan or a line of credit.

•    Credit score of 620 to 674: This credit score range is still considered below optimal. If your credit score falls in this range, you will likely pay 2 percent more than borrowers who boast excellent credit ratings.

•    Credit score of 675 to 719: If you find yourself in this credit score range, you should find it relatively easy to procure a good loan. You will typically pay up to half a percentage point more than a borrower who has excellent credit in regards to a loan.

•    Credit score of 720 and above: If you possess a credit score at or above 720, you have an excellent credit score. This means you will be able to acquire a lender's most favorable rates and you are in the position to shop around thus finding the best loan for you in regards to term, interest rates and other factors."

The article also gives some tips for those whose credit scores fall beneath the minimum excellent credit score amount. These tips on improving credit scores can not only help those who are searching for a loan, but the money saved on the mortgage can help borrowers to improve their life situation as well.

To view these tips and get more information on improving credit scores, please click here to read the full article on

Media Contact: Kevin Blue,, 949-292-8401, [email protected]

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