The cost of bad credit

Because lenders often charge consumers with low credit scores higher interest rates, consumers can end up paying thousands of dollars more than someone with better credit for the same mortgage or auto loan.

30 year mortgage

    Mortgage amount:

  • $100,000
  • $200,000
  • $300,000

    Down payment:    

  • 5%
  • 7%
  • 10%

FICO
score

850
760
700
680
660
640
620

Interest
rate


Principal


Interest

Total
payment

Monthly
payment

5 year auto loan

    Loan amount:   

  • $15,000
  • $20,000
  • $25,000

    Down payment:

  • 5%
  • 7%
  • 10%

FICO
score

850
720
690
660
620
590
500

Interest
rate


Principal


Interest

Total
payment

Monthly
payment

NOTE: Interest rates are accurate as of July 11, 2011.

SOURCES: FICO; Bankrate, Inc; Trycera Credit Services. GRAPHIC: Alicia Parlapiano - The Washington Post. Published July 16, 2011.