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Low Credit Rating Mortgage Home Loans |
 Credit - Credit reports are sold by credit agencies to organizations that are considering whether to offer credit to individuals. The consequences of a negative credit rating is typically a reduction in the likelihood that a lender will approve an application for credit under favorable terms. Interest rates on loans are significantly affected by credit history, the higher the credit rating - the lower the interest while the lower the credit rating, the higher the interest.The increased interest is used to offset the higher rate of default within the low credit rating group of individuals. In the United States, in certain cases, insurance, housing, and employment can also be denied based on a negative credit rating.
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