’s producers know how to get your attention—it’s ‘what they do.’ Last week, they found an angle certain to snag readers for an otherwise ho-hum technical article about preparations for buying Costa Mesa homes—promising one move that “can end up saving you hundreds of thousands of dollars.”

Most soon-to-be Costa Mesa homebuyers were probably skeptical that such a six-figure bonanza exists (it doesn’t). Even so, they’d probably have read on to be reminded of something they already knew: the identity of the potential savings bonanza. Individuals may be powerless to influence the forces that shape today’s marketplace, but one aspect remains “in their control”: their own credit score.

According to the article, the promised windfalls can be realized only “by grabbing the best mortgage with the lowest interest rates possible”—a process that comes down to one central factor: “your credit score.” This is hardly a blinding revelation for consumers seriously contemplating buying Costa Mesa homes, but CNBC provided an example that could be illuminating. For even a modestly-priced $300,000 home, at last week’s U.S. average interest rate, the 30-year total interest paid would be $267,946.70—nearly double the cost of a 3% mortgage from just a year ago.

Area buyers who’d been able to take advantage of those 2021 rates can now appreciate the six-figure savings they will eventually realize—but unless Elon Musk comes up with a time travel machine anytime soon, it’s hard to see how a current buyer’s solid credit score will match those savings. And in fact, by the end of the article, the authors fess up that the actual savings possibilities are “a significant difference in how much interest you’ll have to pay, potentially saving you thousands in the long run.”

The nugget of reality remains: the better your credit score, the better the home loan offer you’ll see. The illusory six-figure savings may have been whittled down significantly, but CNBC does offer two valuable ways to improve your score: check your credit report for errors, then correct them—and request a higher credit line for your existing credit card accounts. Both are easy to do and could result in significant (even five-figure!) long-run savings.

Call us for help and advice on current ways to maximize your Costa Mesa real estate options.

A footnote: one bit of good news will go into effect in seven weeks—all three reporting agencies will remove nearly 70% of medical bill collection data. It will help most of the 15% of Americans whose reports currently include those items.

We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976.  It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa  If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at



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