BOSTON (CBS) — The coronavirus crisis is already causing pressure on the housing industry that experts say could have an immediate impact on some consumers.

According to mortgage broker Al Bingham, if you are in the market for a new home, you will need a top-notch credit score to get the best rates.

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Bingham is a credit score expert and the author of “The Road to 850: Proven Strategies for Increasing Your Credit Score.” He said many lenders are nervous about the uncertainty and borrowers with less than perfect credit are going to have to pay a premium to get a mortgage. “Some consumers are going to be priced out of the market.”

Bingham told WBZ-TV even if you have a stable job, if your credit score is under 800, chances are you’ll have to pay extra points. If you are in the low 700’s or below, that could mean an extra three or four points.

“On a $400,000 mortgage, three points is $12,000 and that’s just for the rate. That doesn’t even count all the other fees so it really adds up quick,” he said.

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This could mean several hundred dollars per month on a mortgage for about 30% of all borrowers.

The current crisis is different from the one in 2008 in which the real estate market tanked across the country, but Bingham said he does see some similarities.

“We will see in the next two to four weeks,” he added. If the crisis is prolonged, like everything else, the impact will be greater.

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“I’m sure we will face some headwinds, the question is how significant,” said Bingham.