678 Vs 680 Credit Score on a Conventional

[Anonymous]

Hello,

I got Pre-approved back in March for a conventional Mortgage. My middle score was 680 at the time.

After the hard pull for the mortgage pre approval my score dropped two points to 678.

I am in the proccess of buying a house, if they pull my credit again  what will happen since its 2 points lower. I know 680 seems to be the magic number for a conventional.

I am going conventional 5% down, and will be have 20% equity by this fall. So the Insurance will fall off quickly.

[Anonymous]

What will happen is that your PMI rate and interest rate will be higher at 678 than 680. Conventional loans and PMI have rate tiers by the 20s (680, 700, 720, 740) and falling below a threshold will alter the rate you receive.