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credit score and interest
is it true that higher credit score will have a better rate?
Yes, it is true that the higher your credit scores are, the lower the risk you pose to the mortgage lender and the lower your mortgage rate will be. This is especially true with conventional loans and jumbo mortgages. For FHA insured loans, anyone with a credit score of 640 FICO, they will get the same mortgage rate. With conventional loans, to get the top best lowest interest rate on a conventional loan, your credit scores needs to be at 740 FICO or higher.

Here is an article on credit scores and mortgage rates.



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