Mortgage rates by credit score
Lenders price a conventional loan by your credit score and down payment, using the price adjustments Fannie Mae and Freddie Mac charge. Here's what each score band adds to this week's average — in points, dollars and an estimated rate.
30-year fixed: latest weekly average 7.18% · week of Nov 5, 2026 · Freddie Mac PMMS · Price adjustments: Fannie Mae LLPA Matrix, effective September 30, 2026
Credit score mortgage calculator
Conventional loan · Fannie Mae price adjustmentsWith 20% down, the adjustment runs from 0.375% of the loan for 780+ to 2.750% for 639 or below — $9,500 more on $400,000, or roughly 0.59% of rate ($162 a month).
| Credit score | Adjustment | Cost | Est. rate | Payment (P&I) | vs 780+ |
|---|---|---|---|---|---|
| 780+ | 0.375% | $1,500 | 7.18% | $2,710/mo | — |
| 760–779 | 0.625% | $2,500 | 7.24% | $2,727/mo | +$17/mo |
| 740–759 | 0.875% | $3,500 | 7.30% | $2,744/mo | +$34/mo |
| 720–739 | 1.250% | $5,000 | 7.40% | $2,769/mo | +$59/mo |
| 700–719 | 1.375% | $5,500 | 7.43% | $2,778/mo | +$68/mo |
| 680–699 | 1.750% | $7,000 | 7.52% | $2,803/mo | +$94/mo |
| 660–679 | 1.875% | $7,500 | 7.55% | $2,812/mo | +$102/mo |
| 640–659 | 2.250% | $9,000 | 7.65% | $2,838/mo | +$128/mo |
| 639 or below | 2.750% | $11,000 | 7.77% | $2,872/mo | +$162/mo |
What would lower your payment most
Example: a 700 score (700–719) with 20% down on $400,000 — about $2,778 a month. Enter your score above to see your own numbers.
- −$68/moReach 780+, the top pricing tierFannie Mae's adjustment falls from 1.375% to 0.375% of the loan.
- −$34/moRaise your score to 740+Fannie Mae's adjustment falls from 1.375% to 0.875% of the loan.
- −$9/moRaise your score to 720+Fannie Mae's adjustment falls from 1.375% to 1.250% of the loan.
- −$68/moOr pay 1 point at closing insteadTakes the rate to the top tier's 7.18%; at $68 a month it pays for itself in about 59 months. $4,000 at closing.
Same model as the table: estimates, not offers. Lenders' own pricing differs too, so compare three quotes and check each against this week's average.
How to read it: an LLPA is a one-time price adjustment, not a fixed rate surcharge — a lender can charge it as points at closing or build it into the rate, as the table does. Most lenders want at least 620 for a conventional loan, so the bottom band means 620–639 in practice. How the estimate works: each band's rate is this week's Freddie Mac average plus its price adjustment above the 780+, 20%-down baseline (the borrower that average describes), converted at about 0.25 percentage points of rate per point — a common rule of thumb; each lender's rate sheet converts a little differently. PMI uses the midpoints of typical annual premiums by score from our PMI cost reference. Condo, second-home, investment and multi-unit add-ons are not included — price those in the LLPA calculator. Estimates, not quotes.
Fannie Mae's grid stops at 780, so a 780 and an 820 pay the same price. Past 780, a higher score doesn't buy a lower conventional rate.
The credit-score adjustment applies only to terms over 15 years. On a 15-year purchase or rate-and-term refinance, a 680 and a 780 pay the same agency price.
All of these adjustments are waived on HomeReady loans and for first-time buyers earning up to 100% of area median income (120% in high-cost areas).
How a credit score becomes a mortgage rate
When Fannie Mae or Freddie Mac buys a conventional loan, it charges the lender a loan-level price adjustment (LLPA): a one-time fee, in percent of the loan, set by a grid of credit score and loan-to-value ratio. Lenders pass it on — as points at closing or, more often, built into a higher rate. That's why two borrowers can get different quotes from the same lender on the same day.
The adjustments stack. On top of the score grid come add-ons for condos (0.750% above 75% loan-to-value), second homes and investment properties (up to 4.125%), two- to four-unit homes, high-balance loans and a second mortgage. The full tables, and a calculator for any combination, are on the LLPA matrix page.
Below 20% down a second, separate cost appears: private mortgage insurance, also priced by score — typically about 1.03% of the loan a year at 680–699 against 0.53% at 760 and up. A lower score with a small down payment pays on both lines, which is why the table's monthly gap widens as the down payment shrinks.
When your score doesn't change the agency price
- FHA, VA and USDA loans. Government-backed loans are excluded from these adjustments, and FHA's annual mortgage insurance is the same 0.55% for any score at the minimum down payment. Compare the programs in our minimum credit score by loan type table.
- Terms of 15 years or less. The score grid isn't charged on 15-year purchase or rate-and-term loans (cash-out refinances pay it at any term), so for lower scores the gap between 15- and 30-year pricing is wider.
- Waived loans. HomeReady, first-time buyers at or under 100% of area median income (120% in high-cost areas) and several Duty to Serve programs pay no LLPAs at all.
- Below 620. Most lenders want at least 620 for a conventional loan (Fannie Mae's automated underwriting no longer sets a hard minimum), so the bottom band covers 620–639 in practice; below that, look at options for lower scores.
Lenders can still add their own pricing on top of the agency grid, so quotes for the same score differ. Getting three quotes — and checking each against the average in our 30-year rate check — is the surest way to find the cheapest.
Mortgage rates by credit score: common questions
What credit score do you need to get the best mortgage rate?
780 or higher. Fannie Mae's price-adjustment grid tops out at 780: with 20% down a 780+ borrower pays 0.375% of the loan, 760–779 pays 0.625% and 740–759 pays 0.875%.
Above 780 the adjustment doesn't fall any further, so a 780 and an 820 get the same conventional pricing.
What mortgage rate can I get with an 800 credit score?
The same pricing as any score of 780 or more — the top tier. With 20% down that tier sits at the national average, about 7.18% for a 30-year fixed (Freddie Mac, week of Nov 5, 2026).
A lower rate than that comes from paying points or from lender competition, not from a higher score.
What mortgage rate can I get with a 750 credit score?
A 750 falls in the 740–759 band. With 20% down, Fannie Mae charges 0.875% of the loan — 0.5 points more than a 780+ borrower, worth roughly 0.13% of rate.
On a 30-year fixed that's an estimated 7.30% this week, against the 7.18% average.
What mortgage rate can I get with a 740 credit score?
A 740 is the bottom of the 740–759 band: 0.875% of the loan with 20% down, 0.5 points above the top tier — an estimated 7.30% on a 30-year fixed this week, about $34 a month more than a 780+ borrower on $400,000. Reaching 760 would trim the adjustment to 0.625%.
What mortgage rate can I get with a 720 credit score?
A 720 falls in the 720–739 band: 1.250% of the loan with 20% down, 0.875 points above the top tier — an estimated 7.40% on a 30-year fixed this week, about $59 a month more than 780+ on $400,000. Reaching 740 would trim the adjustment to 0.875%.
What mortgage rate can I get with a 700 credit score?
A 700 falls in the 700–719 band: 1.375% of the loan with 20% down, 1 point above the top tier — an estimated 7.43% on a 30-year fixed this week, about $68 a month more than a 780+ borrower on $400,000.
Put down less than 20% and PMI adds more: typically 0.60%–0.90% of the loan a year at 700–759.
What mortgage rate can I get with a 650 credit score?
A 650 falls in the 640–659 band: 2.250% of the loan with 20% down — an estimated 7.65% on a 30-year fixed this week, about $128 a month more than 780+ on $400,000.
With 10% down, PMI near 1.28% a year pushes the gap to about $369, which is why many 650 borrowers compare FHA.
How much does your credit score affect your mortgage rate?
From the top band to the bottom, Fannie Mae's adjustment at 20% down grows from 0.375% to 2.750% of the loan — $9,500 on $400,000, or roughly 0.59% of rate ($162 a month). With 10% down, PMI widens the monthly gap to about $486.
Do FHA loans have different rates by credit score?
Not from the agency side. FHA, VA and USDA loans are excluded from Fannie Mae's price adjustments, and FHA's annual mortgage insurance is the same 0.55% for any score at the minimum down payment.
FHA needs a 580 score for 3.5% down (500 with 10% down); individual lenders can still price lower scores higher.
What is a loan-level price adjustment (LLPA)?
A one-time fee, in percent of the loan, that Fannie Mae and Freddie Mac charge the lender when they buy a conventional mortgage. It's set by credit score and loan-to-value, plus add-ons for condos, second homes, investment properties and more.
Lenders pass it on as points or a higher rate. See the full LLPA matrix and calculator.
Estimated rates combine a national weekly average with Fannie Mae's published price adjustments; they are not offers or personalized quotes. Freddie Mac publishes its own credit-fee matrix (Guide Exhibit 19). Your rate depends on the lender, the full loan file and the day you lock — confirm pricing with a licensed lender.