click here: Leave a text, tell us what you liked

This RetireCoast Podcast explains the complexity of credit scoring, particularly emphasizing the significant difference between the commonly seen VantageScore and the older FICO Score models (versions 2, 4, and 5) used specifically by mortgage lenders. It details that an individual has many different credit scores, and relying on free app scores can be misleading for home buyers because mortgage lenders often use a score that is substantially lower. The article breaks down the five factors that constitute a FICO score, with payment history and credit utilization making up the largest weights, and underscores that a lower score can cost a borrower tens of thousands of dollars in extra interest over the life of a loan. Finally, the text stresses that credit scores affect far more than just mortgages, influencing rates for auto loans, insurance, and even apartment rentals.

Enjoyed this episode? 🎙️
Subscribe to the RetireCoast Podcast for more practical conversations about retirement planning, financial preparedness, small business growth, and life on the Mississippi Gulf Coast.

👉 Visit RetireCoast.com for in-depth articles, resources, checklists, and guides that expand on the topics we cover here.

💬 Have a question or want us to cover a topic?
Email info@retirecoast.com
or join our Facebook community:
Business After Retirement: Start, Manage, Succeed.

Disclaimer:
This podcast is for informational purposes only and does not provide financial, tax, or legal advice. Always consult with a qualified professional before making financial decisions.

Episode Keywords:
Big Beautiful Bill 2025, Social Security changes, retirement taxes, small business incentives, monthly living expenses in retirement, retirement budgeting, Medicare and seniors, financial security, retirement planning, Gulf Coast retirement, small business growth.