If a borrower has a high FICO score, then there is:
A) a minimal chance of his or her loan getting approved.
B) no chance of his or her loan getting approved.
C) a high chance of having higher monthly payments for his or her loan.
D) a high chance of more collateral requirements for his or her loan.
E) a high chance that a lower interest rate will be charged for his or her loan.

Question

Quizplus · Accepted Answer

A high FICO score indicates that the borrower has a good credit history and is less risky to lend to. Thus, lenders are more likely to offer lower interest rates to borrowers with high FICO scores.

If a Borrower Has a High FICO Score, Then There