If you've researched or gone through the process of getting a home loan, you know how important it is to have a good credit history. But did you know insurance companies also use your credit habits in determining whether they'll provide you with insurance and how much you'll pay?
      Insurance companies have traditionally used many factors in determining how much of a risk you are to get into an accident or incur losses resulting in claims.
      For example, insurers will look at your driving record and how long you've been driving when you seek auto insurance. Likewise, when you apply for homeowners insurance, they'll look at the age, size, and construction of your home.       Through the years insurers have found a person's credit information to be a highly accurate predictor of risk, according to the Insurance Information Institute, a non-profit organization supported by the property and casualty insurance business.

     If you're a potential first-time buyer wishing you'd taken the home buying plunge while rates were low, it's not too late to dive into the market. In fact, even with interest rates on the rise, waiting to purchase a home could end up costing you money.
      Here's why. Let's say you're interested in buying a house that costs $100,000, but you believe interest rates might fall if you waited one year to purchase. Would you really save by waiting?
      Probably not. If you were to purchase today, principal and interest payments on a $90,000 loan (after a 10% down payment) would be $660.39 at 8.0% interest.
      But if rates did fall over the next year, say by one-half percent to 7.5% interest, you would have lost money by waiting. Appreciation at even a meager 3% annual increase has now elevated the cost of the home by $3,000 to $103,000. That means that you'll need $300 more down payment for a 90% loan. And a larger loan could mean more closing costs plus a higher mortgage amount could make loan qualifying tougher. Don't forget that based on the type of home you wish to purchase, it might not be as readily available later especially if you purchase in a strong seller's market.