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Near-prime pricing across the board. Calculator prefilled with an estimated rate for this range; adjust anything.
Compare rates and get pre-approved. Shopping multiple lenders can save tens of thousands over the life of a loan.
For educational purposes only. Not financial advice. Actual loan approval depends on credit score, employment history, and lender criteria. Consult a mortgage professional before making home buying decisions.
With a 700 credit score you're in near-prime territory: approved everywhere, priced within about a quarter point of the best conventional rates, and offered reasonable PMI if you put less than 20% down.
From here, score improvements buy small rate gains — the 720 and 740 tiers each help a little. The bigger wins are a larger down payment (dropping PMI entirely at 20%) and aggressive lender shopping.
Conventional is almost always the right product at this score unless a VA benefit applies — VA pricing beats everything when available.
Take a buyer earning $85,000 a year, with $400/month in existing debt and $25,000 saved for a down payment, on a 30-year loan:
| Estimated rate at a 700 score | 6.68% |
| Max home price (bank approval estimate) | $255,000 |
| Estimated monthly payment (P&I + tax + insurance) | $1,980/mo |
| Same buyer with a 760+ score | $257,000 |
| Buying power cost of a 700 score | −$2,000 |
PMI with less than 20% down is cheap-ish at this score — roughly $30–45 per month per $100,000 borrowed.
At a 740 score (estimated 6.55%), the same buyer could afford about $257,000 — $2,000 more house for the same income and monthly budget. 740 is the score where conventional pricing effectively maxes out. If you're a month or two of paid-down balances away from it, it can be worth a short wait.
Rules and pricing change at 580, 620, 640, and every 20 points beyond. Pick your exact score, or use the main affordability calculator if credit isn't your constraint: