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How much higher is the interest rate for conventional if my credit falls just below 720?

and how much of a difference would it make on monthly payments for a 30 year $100,000 loan.. i don't know if i should see a credit counselor first or if its worth it by pete.t991carlson696 from Owensboro, Kentucky. Dec 18th 2013 Reply


Colby Neal (ScottsdaleInsurance)
#110 ranked lender in Arizona - 71 contributions

About .335% up to .5% depending on the bank, lender, or investor.

Dec 18th 2013
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Jerry Hodges (jhodges)
#6 ranked lender in Kentucky - 5 contributions

Should be less than $10 per month difference in payment.

Dec 18th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,225 contributions

I suggest moving forward, interest rates are likely to increase while you are working to improve your score so you wouldn't necessarily improve your situation first. I have a blog posting on this site that has some basic suggestions that might help to bring your score up, check it out.

Dec 18th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,225 contributions

- check out my blog titled "First Steps" on this site for some suggestions that may help.

Dec 18th 2013
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Joel Lobb (kentuckyloan)
#3 ranked lender in Kentucky - 192 contributions

It would depend on your loan to value also. What is your loan to value ?

Dec 19th 2013
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