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Interest Rate

Frequent Contributor

Interest Rate

I tried to search for this before posting however could not find it.  What is the current average interest rate for a mid fico score of 625?  TIA

Starting Scores (7/26/2010): EQ 517; TU 508; EX 527 (lender)
Scores Along the Way (11/4/2010): EQ 542; TU 547; (11/8/2010) EX Plus 641
Scores Along the Way: (4/15/2011): EQ 516; TU 622; EX 585 (lender)
Scores Along the Way: (8/25/2011): EQ 617; TU 627; EX 625 (lender)
Scores Along the Way: (11/28/2011): EQ 617; TU 645; EX 667 (lender)
Current Scores: (8/9/2013): EQ 634; TU 662; EX 694 (lender)
Closed on a Home: 12/30/2011 Goal Scores (8/25/2014): 700 club
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1 REPLY
Valued Contributor

Re: Interest Rate

Way too many other variables to answer this

Things like

Program type

down payment

Term (15/30 years)

even loan amount 

all of these come in to play when it comes to rate

given the score youa re probably looking at FHA which means score will not be as big an issue but it could be as that is about as low as you will be able to get approved with and the banks that allow scores to 620 tend to have higher rates

 

B

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
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