Mortgage Rates by Credit Score
Best Mortgage Rate for 680 Credit Score
A 680 credit score is solid. Conventional financing is fully open with moderate risk-based pricing adjustments. FHA still competes on certain LTVs. VA is available if you qualify. The pricer below shows all three side by side.
Conventional Loan Facts
- Down payment as low as 3% for first-time homebuyers, 5% for others
- Down payment assistance programs available to fully cover the 3% down payment
- Private Mortgage Insurance (PMI) required below 80% LTV - automatically removed at 78%
- Maximum DTI typically 45%, up to 50% with strong compensating factors
- Minimum credit score generally 620; best rates at 740+
- Available for primary residence, second home, or investment property
- No upfront mortgage insurance premium - only monthly PMI if applicable
How 680 FICO Affects Pricing
| Program | Min FICO | Your standing at 680 | Notes |
|---|---|---|---|
| Conventional | 620 | Eligible | Risk-based pricing adjustments stack below 740 FICO |
| FHA | 580 (3.5% down) | Eligible | Most rate-friendly program at lower FICOs |
| VA | No published min | Eligible (subject to lender overlay) | 0% down, no MI - veteran/active-duty only |
Frequently Asked Questions
What is the best mortgage rate for a 680 credit score?+
The "best" rate depends on loan program, LTV, occupancy, and lock period. The pricer above returns live wholesale rates for a 680 FICO across Conventional, FHA, and VA. A 680 credit score is solid. Conventional financing is fully open with moderate risk-based pricing adjustments. FHA still competes on certain LTVs. VA is available if you qualify. The pricer below shows all three side by side.
Can I get a Conventional loan with a 680 FICO?+
Yes. 680 is well above the 620 Conventional minimum. Conventional financing is fully open with moderate risk-based pricing adjustments.
Is FHA or Conventional better at a 680 credit score?+
Usually FHA at this FICO. Conventional risk-based pricing adjustments stack on lower scores, often pushing the all-in cost above FHA even with the upfront MIP and monthly MIP. The pricer compares both directly.
Will I get a worse rate with a 680 FICO than someone with 780 FICO?+
Yes - on Conventional loans specifically. Fannie Mae and Freddie Mac apply risk-based pricing adjustments based on FICO and LTV. The difference between a 680 FICO and a 780 FICO on a 95% LTV Conventional purchase can be roughly 0.5% to 1.5% in rate equivalent. FHA and VA pricing is less FICO-sensitive in middle brackets.
How can I improve my mortgage rate at 680?+
Three highest-impact moves: (1) increase your down payment to drop into a lower LTV bucket (each LTV bucket - 95, 90, 85, 80, 75 - is a meaningful pricing step), (2) pay off revolving balances to lift your FICO into the next 20-point bucket, (3) shop wholesale brokers vs retail. Rate Direct shows live wholesale pricing for your exact 680 FICO bucket.
Is the $2,000 Best Price Guarantee available at a 680 FICO?+
Yes - the Loan Factory $2,000 Best Price Guarantee is FICO-agnostic. It applies to qualifying fixed-rate Conventional, FHA, and VA loans of $200,000+ regardless of credit score, as long as the loan closes.
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