FHA rate difference?

boog13 · ‎03-29-2019

Hi All,

Is there a difference in rate between a 673 middle score and a 680 middle score?

NC_Mtg_Loaner · ‎03-30-2019

yes and no.

It may depend on the loan amount but may only be reflected in the "cost" to obtain a certain market rate but it's not likely to make any REAL difference to your transaction or decision to buy or refinance a home.

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Licensed NC, SC and VA Mortgage Loan Originator

boog13 · ‎03-30-2019

Are there score thresholds as it relates to rates?

kaylord84 · ‎03-30-2019

660 and above usually gets the best rates

Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 723 TU 665 Ex 682
Goal Score: 700 All 3

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CreditInspired · ‎03-31-2019

@boog13 wrote:
Are there score thresholds as it relates to rates?

Hi and welcome to MyFICO.

Here is a link that provides the score breakdown lenders use for mortgage loans.

https://www.myfico.com/loancenter/mortgage/step1/getthescores.aspx

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