What mortgage rates can i qualify for with a middle credit score of 689?

Hi Jeff, the answer to your question depends on the loan type. Let's discuss options, happy to help.Best Regards,Lorne

HI Jeff - If you're doing a FHA loan, you will get a good rate, the same as someone with a 740 score. But if you're doing conventional, the best rate does go to someone with a 740 or higher score, and at 689 your rate is typically at least 1/4 percent higher. There are of course other factors affecting the rate, including the loan to value percent (ie, how much of a down payment you have), and the type of property (condo rates for example can be higher.) Talk to a good mortgage lender, and have them calculate what rate you qualify for, based on your situation.

No loan officer with any integrity would ever quote you an interest rate based on the limited info you provided.. and if someone did, they are probably not the lender you should use.. you would only be setting yourself up for disappointment.. nearly a hundred different things are considered when determining one's eligibility, and the mid credit score is just one of them.. loan to value, loan amount, property type, loan term (15, 20, 30 yrs). Fixed or adjustable, etc, etc, etc.. This i can say.. Rates are low!! ...really low.. so if your interested in purchasing, then do yourself a favor, pick up the phone and call a local mortgage broker.. (brokers give better deals than banks).. it will take 10 minutes on the phone, and you will know exactly what to expect based on your personal loan profile. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com