---
title: What does it cost you when you have a low FICO Score?
description: This post reveals how much more you could pay compared to qualified borrowers, with detailed breakdowns at different credit score levels. Learn how to get the best financing and save thousands.
---

[Your Rights](https://kornerstoneliving.uownleasing.com/your-rights)

# [What does it cost you when you have a low FICO Score?](https://kornerstoneliving.uownleasing.com/your-rights/what-does-it-cost-you-when-you-have-a-low-fico-score)

 Written by [Kornerstone Living](https://kornerstoneliving.uownleasing.com/your-rights/author/kl) | Jan 3, 2024, 9:18:38 PM

**For auto loans:**

**Example: A $30,000 2024 Toyota Camry LE with $3,000 downpayment not including sales tax.**  
Compared to a Toyota Financial Services qualification, you will be paying **6.8 to 9.7** times more interest depending on your FICO score**. **That is** $13,500** more in interest for a Subprime borrower compared to a qualified borrower with Toyota.

|   | **APR Interest** | **Monthly** | **Total** | **Total Interest** |
| --- | --- | --- | --- | --- |
| **Toyota Financial** | 2.75% | $594.65 | $28,543.20 | $1,543.20 |
| **600-699** | 17.16% | $781.32 | $37,503.36 | **$10,503.36** |
| **451-599** | 22.18% | $853.30 | $40,958.40 | **$13,958.40** |
| **450 or lower** | 23.65% | $875.03 | $42,001.44 | **$15,001.44** |

- [https://www.toyota.com/southeasttoyota/deals-incentives/camry\_apr\_c8515459-16cf-4eef-8057-fe9de611569d/?offers=apr&vehicles=camry](https://www.toyota.com/southeasttoyota/deals-incentives/camry_apr_c8515459-16cf-4eef-8057-fe9de611569d/?offers=apr&vehicles=camry)
- [https://cars.usnews.com/cars-trucks/advice/average-auto-loan-interest-rates#h-average-auto-loan-rates-for-excellent-credit](https://cars.usnews.com/cars-trucks/advice/average-auto-loan-interest-rates#h-average-auto-loan-rates-for-excellent-credit)

**For a home mortgage:**

The estimated mortgage rate is based on an average U.S. single-family home price of $425,000 with a 20% downpayment and a 30-year fixed-rate mortgage.

A Subprime borrower will require a higher downpayment of up to 35% and a rate of 10% or higher.  
Compared to a Prime borrower, Subprime borrowers will pay over $280,000 more!

If you are selling your home in 10 years.   
The subprime borrower will still owe $309,190 vs Prime borrows $289,881 to pay off the bank.

| **FICO Score** | **National Average Mortgage APR** | **Monthly** | **Total Paid** | **Interest Paid** |
| --- | --- | --- | --- | --- |
| **Subprime\*** | **10%** | **$2,984** | **$1,074,146** | **$734,140** |
| 620 - 639 | 8.31% | $2,569 | $924,718 | $584,718 |
| 640 - 659 | 7.77% | $2,441 | $878,580 | $538,580 |
| 660 - 679 | 7.34% | $2,310 | $842,468 | $502,468 |
| 680 - 699 | 7.12% | $2,290 | $824,200 | $484,220 |
| 700 - 759 | 6.95% | $2,251 | $810,223 | $470,223 |
| 760 - 800 | 6.73% | $2,201 | $792,259 | $452,259 |

- [https://www.businessinsider.com/personal-finance/average-mortgage-interest-rate](https://www.businessinsider.com/personal-finance/average-mortgage-interest-rate)
- [https://www.forbes.com/advisor/mortgages/what-is-a-subprime-mortgage/](https://www.forbes.com/advisor/mortgages/what-is-a-subprime-mortgage/)

[View full post](https://kornerstoneliving.uownleasing.com/your-rights/what-does-it-cost-you-when-you-have-a-low-fico-score)

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