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A clean snapshot of your home buying budget — great for Reddit or socials.
Near-best pricing — one small tier from the top. Calculator prefilled with an estimated rate; 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.
A 740 credit score sits in the second-best conventional pricing tier — within roughly a tenth of a point of the best rates on the market. Approval is automatic everywhere; mortgage insurance, if needed, is at its cheapest.
At this point your score is done doing work. The remaining levers are down payment size, loan term, buying points (or not), and — above all — competing lenders against each other.
Conventional, all day. Consider whether a 15- or 20-year term fits your budget — the rate discount versus a 30-year is larger than any credit tier.
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 740 score | 6.55% |
| Max home price (bank approval estimate) | $257,000 |
| Estimated monthly payment (P&I + tax + insurance) | $1,980/mo |
| Same buyer with a 760+ score | $257,000 |
| Buying power cost of a 740 score | none — top tier |
PMI with less than 20% down is at its cheapest at this score — roughly $20–35 per month per $100,000 borrowed.
At a 760 score (estimated 6.50%), the same buyer could afford about $257,000. 760 unlocks the final tier, but the gain is marginal. Focus on lender competition and closing-cost negotiation instead.
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: