How Your Credit Score Affects Your Mortgage Rate

Rate Tiers by Credit Score

Your credit score directly affects your interest rate. Typical adjustments from a base rate:

780+: Best rate (base)
740-779: +0.125%
700-739: +0.25%
660-699: +0.5%
620-659: +1.0%
Below 620: +1.5-2.0% (if approved at all)

Dollar Impact

On a $350K loan, the difference between 780+ and 660 scores is about 0.5% in rate — that is $100+/month or $36,000 over 30 years. Improving your credit score before buying is one of the highest-ROI financial moves.