Boost Your Credit,
Lower Your Rate!
Did you know your Credit Score
impacts your Interest Rate?
The type of loan (Conventional, USDA, VA, FHA) also determines how much your score affects your rate. While there are a variety of factors that are used to decide an interest rate, let me offer a brief explanation and how we can help you get the lowest rate possible.
A Conventional loan with 10% down and a 775 credit score vs. a 780 score pays .250 more. So on a $400,000 home, that 5-point credit score difference would cost you $1,000. This is why we can give you suggestions to improve your credit score while you're out looking for a home! Here is the Credit Score breakdown by loan type:
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As you can see, for an FHA, VA or USDA loan there is no pricing adjustment over 720. That is the best score, so for those loan types there would be no reason to work on increasing your credit score. But if you qualify for a Conventional loan and you have a 750 credit score we could work to get it higher. Going up to a 780 score would save you $2,000 on a $400,000 home!
Here are the different factors that are considered when calculating a credit score:
It's important to reach out to us early in your home purchase journey. We can educate you on your specific situation and get you in the best position once you're ready to buy! Regardless of what your credit score is now, if you take the steps to improve it you'll save money with a lower rate. Reach out to get started!
Conventional loan with 10% down payment. Purchase Price of $400,000 with a 6.500% fixed interest rate/6.727% APR for 30 years = $2,356.44 monthly payment. Payment is Principal & Interest plus mortgage insurance only, based on a 780 credit score. Does not include amounts for taxes and home insurance premiums.
The actual payment obligation will be greater. Rates available as of 8/2025 but subject to change. Final approval subject to credit review. Loan program examples
are for illustrative purposes only. This is not a commitment to lend.
