Are you ready to take the leap into homeownership? It might surprise you to find that the process isn’t as cut and dry as you thought.

And it’s all because lenders are so stingy with their rates!

Who would have thought getting something as simple as an interest rate would be so hard? 

Best FHA Loan Rates 725 to 760 Credit Score

After all, lenders are supposed to help you get a mortgage. Right?

Well, you’re in luck.

At the Wendy Thompson Lending Team, we’ll never leave you in the dark.

We’ll be with you every step of the way. 

You could qualify for a low rate with an FHA loan if your credit score is 725, 730, 735, 740, 745, 750, 755, or 760.

Are you ready to see rates based on your credit score? 

Let’s jump right in.

First, we recommend you get started with a free, quick quote by state:

Best FHA Loan For Rates 725 to 734 Credit Score

Borrowing money isn’t free. Lenders charge interest, and the rate you get determines how much you’ll pay the bank for the privilege of borrowing money from them. 

It’s called an APR, or annual percentage rate.

Basically, the lower the rate, the cheaper your loan is.

Let’s see what rate you might qualify for with a credit score in this range:

sample FHA loan Rates by Credit score: 725 to 734 

Fico score

APR

Mo. Payment

700+

3.375 %

$1,508.00

660 - 699

3.5 %

$1,525.00

640 - 659

3.625 %

$1,542.00

620 - 639

Currently Unavailable

N/A

600 - 619

Currently Unavailable

N/A

*Updated 4/22/20 - Rates are based on a $250,000 home with a 3.5% down payment, and includes principal, interest, taxes and insurance.  Rates change often and differ based on your state, down payment, and loan amount.  Click here for correct rates based on your situation.  

If your number is above 700, you already have what’s considered a “good” credit score. 

But remember: The better your credit, the better your rate. 

There are a few strategic moves you can do to boost your credit score and get a lower rate. We’ll talk more about that in a minute.

Best FHA Loan For Rates 735 to 744 credit score

With a credit score in this range, you’re on your way to a great rate. But you need to know that lenders look at more than just your credit score.

Your debt-to-income (DTI) ratio is also important.

DTI is a fancy way of measuring how much you owe compared to how much income you have. It tells a lender how much cash is left after you pay your bills. 

That’s why your DTI matters: It shows the lender whether you can afford to make a mortgage payment.

sample FHA loan Rates by Credit score: 735 to 744 

Fico score

APR

Mo. Payment

700+

3.375 %

$1,508.00

660 - 699

3.5 %

$1,525.00

640 - 659

3.625 %

$1,542.00

620 - 639

Currently Unavailable

N/A

600 - 619

Currently Unavailable

N/A

*Updated 4/22/20 - Rates are based on a $250,000 home with a 3.5% down payment, and includes principal, interest, taxes and insurance.  Rates change often and differ based on your state, down payment, and loan amount.  Click here for correct rates based on your situation.  

With a DTI of 50% or less and a credit score between 735 to 744, you can get a good rate on your FHA loan.

Best FHA Loan For Rates 745 to 754 Credit Score

Just because you have a credit score that’s hovering around the 750s doesn’t mean you can afford a significant down payment. 

An FHA loan can help. 

You might have thought an FHA loan is only for first-time homebuyers. But that’s not true at all.

The Federal Housing Administration (FHA) lets people just like you borrow money. With a lower down payment – usually only 3.5% – you can get the keys to your new home.

sample FHA loan Rates by Credit score: 745 to 754

Fico score

APR

Mo. Payment

700+

3.375 %

$1,508.00

660 - 699

3.5 %

$1,525.00

640 - 659

3.625 %

$1,542.00

620 - 639

Currently Unavailable

N/A

600 - 619

Currently Unavailable

N/A

*Updated 4/22/20 - Rates are based on a $250,000 home with a 3.5% down payment, and includes principal, interest, taxes and insurance.  Rates change often and differ based on your state, down payment, and loan amount.  Click here for correct rates based on your situation.  

Best FHA Loan Rates For 755 To 760 Credit Score

FHA lenders can consider a credit score that’s 755 to 760 superb. The closer you get to 800, the better your rate can be.

Since FHA loans can last 15 to 30 years, a lower rate can save you tens of thousands of dollars over the life of your loan.

Let’s take another look at those sample rates.

SAMPLE FHA LOAN RATES BY CREDIT SCORE: 755 TO 760

Fico score

APR

Mo. Payment

700+

3.375 %

$1,508.00

660 - 699

3.5 %

$1,525.00

640 - 659

3.625 %

$1,542.00

620 - 639

Currently Unavailable

N/A

600 - 619

Currently Unavailable

N/A

*Updated 4/22/20 - Rates are based on a $250,000 home with a 3.5% down payment, and includes principal, interest, taxes and insurance.  Rates change often and differ based on your state, down payment, and loan amount.  Click here for correct rates based on your situation.  

A drop of just 0.50% in your interest rate could save you more than $20,000 on a 30-year FHA loan.

Simple Tricks to Jump-Start Your Credit Score

Your credit score plays a big role in the rate you get for an FHA loan. Here are a few ways to increase your credit score.

  • - Get a copy of your credit report from all 3 reporting bureaus
  • - Dispute any mistakes you find on your report
  • - Make sure you pay all of your bills on time
  • - Don’t max out your credit cards or open new accounts

If you’re not sure what steps to take, or just want some extra guidance, the Wendy Thompson Lending Team is here for you.

We’ll do an in-depth assessment of your credit and tell you precisely what you need to do to increase your credit score.

Let's Go House Shopping!

Buying a house is exciting! Don’t ruin the experience by choosing the wrong lender. Without the expertise and know-how to get you approved for an FHA loan, you could lose your dream home. 

But we won’t let that happen.

Call the Wendy Thompson Lending Team, and we’ll help you pick the right lender based on your credit score.

Unique only to the Wendy Thompson Lending Team is our:
The Tactical FHA Loan Blueprint

Deciding on the right FHA lender is the most important decision you will make. Choosing the wrong lender can result in you losing your dream home or costing you hundreds of thousands of dollars in more interest over the life of your mortgage.  

Don’t make that mistake, contact the Wendy Thompson Lending Team today!  

You can start the process by clicking the yellow 'See if I'm Eligible' button on the right side bar under the 'Start your quote for a Home Loan'  or call Wendy’s Team directly at (901) 250-2294, to get started on living the American Dream in the home of your Dreams!