Your credit score and homeowners insurance

Homeowner’s insurance is a necessity for almost any home buying these days. Lenders want to protect their investment as much as a homebuyer does. Just as lenders determine your loan interest rate and terms largely on ones credit scores, insurance companies also use credit scores to determine how much to charge for insurance premiums.

So a good credit score saves money in more ways past the mortgage interest rate. This is yet another good reason perhaps to watch closely your credit scores.

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