Finance
A NH borrower's credit score significantly impacts their mortgage rate. A borrower with a 760+ credit score compared to one with a 620 score would typically receive:
AThe exact same rate since rates are set by federal law
BA meaningfully lower interest rate, potentially saving tens of thousands of dollars over the loan term✓ Correct
CA lower rate only for FHA loans
DA higher rate due to assuming less risk for the lender
Explanation
Credit scores are a primary determinant of mortgage interest rates. Higher credit scores represent lower default risk, earning lower rates.
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