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Best Fico Score for Lowest Mortgage APR

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Kkhalil85
Valued Member

Best Fico Score for Lowest Mortgage APR

Hi All,

 

I looked in the forums for the best needed score to get the lowest interest rate on a mortgage.  I am hoping to start the pre-approval soon, can't save for a down payment Smiley Sad.  I read here somewhere that if you get a middle score of 760 you should get the lowest available APR.  I know that score is not the only factor for a mortgage, but I want to know if there is a "Magic" number that you need to get the best rate.

 

I understand that each mortgage applications can be unique, and that this can be different to answer.  I appreciate all of your feedback.  If you have any tips on getting ready for a mortgage in NJ please share it or how to see for a preapproval in Bergen County NJ.

 

Thank you all.

myFico 08 Scores: EQ 732/ TU 740/ EX 782 9/6/15
Mortgage Scores.: EQ 747/ TU 784/ EX 780 9/6/15
Message 1 of 3
2 REPLIES 2
DallasLoanGuy
Super Contributor

Re: Best Fico Score for Lowest Mortgage APR

740 for bet rate

760 for lowest pmi rate

 

Retired Lender
Message 2 of 3
Kkhalil85
Valued Member

Re: Best Fico Score for Lowest Mortgage APR


@DallasLoanGuy wrote:

740 for bet rate

760 for lowest pmi rate

 


Thank you DallasLoanGuy.  

 

Big fans of yours, wish you were in NJ.  Your answers are always on point.

myFico 08 Scores: EQ 732/ TU 740/ EX 782 9/6/15
Mortgage Scores.: EQ 747/ TU 784/ EX 780 9/6/15
Message 3 of 3
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