The most Frieda can afford to pay per year in mortgage payments is $10,400,
and her credit score is currently 577. According to the following table for a
$150,000 mortgage, by how many points would she need to improve her
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%
8.53%
9.29%
Monthly
Payment
$860
$872
$924
$1,039
$1,157
$1,238
