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620 is the minimum for conventional loans, though you'll pay PMI and higher rates. FHA may still be better at 620 depending on your down payment. Compare both options.
Our Top Picks for 620 Credit Score
Best for 620 Conventional
Rocket Mortgage
APR Range6.99% – 8.25%
Min. Credit Score620 (Conventional)
Why we recommend it: Rocket Mortgage is one of the few major lenders offering conventional loans at exactly 620, with a smooth digital process.
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Best Rate at 620
Better.com
APR Range7.10% – 8.10%
Min. Credit Score620
Why we recommend it: Better.com offers competitive conventional and FHA rates at 620 with transparent pricing and no lender fees.
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Best for Comparison
LendingTree
APR Range6.99% – 8.25%
Min. Credit Score580
Why we recommend it: LendingTree's multi-lender comparison is especially valuable at 620 where rates vary significantly between lenders.
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Frequently Asked Questions
Should I get an FHA or conventional loan at 620?
It depends on your down payment. With less than 10% down, FHA MIP is often cheaper than conventional PMI at 620. With 10%+ down, conventional may be better. Run the numbers for your situation.
What is the mortgage rate for a 620 credit score?
Conventional rates for 620 borrowers typically run 1–1.5% above the best available rates. Expect 7–8.25% in the current environment.
How can I improve my mortgage rate from 620?
Improving from 620 to 640 could save 0.25–0.5% APR. On a $300,000 mortgage, that's $45–$90/month or $16,000–$32,000 over 30 years.