What credit score do you need for low interest rates?
Jackson Reed
Updated on January 23, 2026
A credit score of 700-plus will usually land a borrower a lower interest rate, and while mortgage industry experts say you can still qualify for certain loans with a score under 680, the 700s are where you can expect to pay the lowest rates.
What is a good credit score to buy a house 2021?
What Are FHA Credit Score Requirements in 2021? The Federal Housing Administration, or FHA, requires a credit score of at least 500 to buy a home with an FHA loan. A minimum of 580 is needed to make the minimum down payment of 3.5%. However, many lenders require a score of 620 to 640 to qualify.
What credit score do you need to buy a mansion?
600 or higher
Credit Score Needed to Buy a House in California Having said that, lenders today prefer to see a score of 600 or higher for approval of mortgages.
What interest rate can I get with a 640 credit score?
A Higher FICO Score Saves You Money
| 700-759 | 2.824 % |
| 680-699 | 3.001 % |
| 660-679 | 3.215 % |
| 640-659 | 3.645 % |
| 620-639 | 4.191 % |
What should my credit score be to get a home loan?
Today, the best rates kick in with a FICO score of 760. And interest rates go up significantly as your credit score drops. To give you an idea, the following table gives you an idea of current rates by credit score. It also calculates a monthly principal and interest payment, based on a $300,000 loan:
What should your credit score be to get a credit card?
Credit scores range from 300 to 850, with 300 considered a “very poor” score and 850 considered “excellent.” About 66% of Americans have a “good” or better FICO score. Wherever your credit score falls, there’s a credit card for you.
What should your FICO score be to buy a house?
Still, to buy a home, aim for a score of at least 620, recognizing that other factors weigh in the decision and that some banks may require a higher score. With an FHA mortgage, however, a FICO score of 600 or higher is enough to qualify for the 3.5% down payment loan.
What kind of credit score do I need for a car loan?
For a car loan, your lender might use your FICO Auto Score, VantageScore, or any of a number of variations. Many of the free credit scores advertised as a benefit of a credit card or other financial service use the VantageScore model, as it is less expensive to provide than a proprietary FICO score.
