690 credit score= rates?

Anonymous · ‎04-10-2018

So me and my wife did the pre approval for a mortgage and received a call that we both had a 691 credit score.

We were pre approved for 244k at 5.0%.

Does that seem like a high rate? Would achieving 700 before close lower it?

Anonymous · ‎04-10-2018

My husband and I just locked in at 4.62% and our mid mortgage score was 770. So, I think 5% is probably pretty accurate for you all, but maybe someone more experienced will chime in. I've heard the 'best' rates are for those 760 and above.

me12345 · ‎04-10-2018

What type of loan? Conventional or FHA? Whats the LTV? How much are you putting down?

Thanks,

VA & FHA down to 550...
Licensed Senior Mortgage Loan Officer in the states of Arizona & California
Specializing in VA, FHA, USDA & Conventional loans. My company is also licensed in 12 states, Arizona, Colorado, Nevada, California, Oregon, Washington, Utah,
Alaska, New Mexico, Texas, Illinois and Florida

Anonymous · ‎04-10-2018

It’s confentional. 30 year fixed. The house actually costs 315 and we’re putting 65k down.

NC_Mtg_Loaner · ‎04-11-2018

That seems like it's a tick higher than market rate at this time. There could still be some kind of pricing adjustment lurking within that quote though.

How long is your lock period?

__________________________________________________

Licensed NC, SC and VA Mortgage Loan Originator

kc0039 · ‎04-11-2018

That's like an eighth higher than current market rate

Licensed in IL