Cody Velkovich (Cody_NRL)
#168 ranked lender in Texas - 84 contributions
Hey Wanda, that would depend on multiple different factors, such as loan program, down payment, etc. To give you a general idea, the national averages for top-tier buyers will range around 3.75% for Government loans (FHA, VA, USDA) and around 4.25% for Conventional loans as of today. A 640 FICO score will be close to these numbers, although the pricing (cost for a particular rate) may be a little higher. For instance, if the rates above are at PAR (or no cost to the buyer) then they may cost someone with a 640 FICO a 0.25 point (or 0.0025%) of the loan amount as an additional cost, which is usually tax deductible. Feel free to reach out to me through my profile if you're interested in getting qualified to purchase.