The most Ellsworth can afford to pay per year in mortgage payments is $14,000, and his credit score is currently 498. 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
700-719
675-699
620-674
560-619
500-559
Interest
rate
5.59%
5.71%
6.25%
7.40%
Monthly
payment
$860
$872
$924
$1039
$1157
$1238
8.53%
9.29%
O A. 2 points
O B. 62 points
O C. 177 points
O D. 122 points
SUBMIT