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We will be applying for a conventional mortgage. And although our credit score is not perfect does it help with getting a better interest rate if we have never been late on our current mortgage and have been here for 3 years?

Please knowledgeable and honest answers.

3 Thoughts on What kind of mortgage interest rate will I get with a mid-600s credit score?
  1. Reply
    March 18, 2012 at 3:02 am

    ask about fha loan since they are not score driven have better rates, but charge for closing fees

  2. Reply
    March 18, 2012 at 3:50 am


    Generally, your credit rating has nothing to do with the interest rate you will be charged. Your credit rating is simply what the Banks use to calculate the line of credit they will offer you.

    To get a better rate, you simply have to shop around. Go in to the branches and speak to them in person about the kind of interest rates they are offering. Make sure to ask for a better rate, because they will more than likely offer you something better. Play them off each other by letter know each Bank what the other is offering you.

    Once you are happy, lock it in. Attempt to get a fixed rate for a few years, because rates are rediculously low at the moment, at least here in Australia. Once the market recovers, you will be laughing at people who’s mortage repayments have skyrocketed.

  3. Reply
    March 18, 2012 at 4:40 am

    not certain if this solves your problem but what I suggest doing in bad financialconditions is to obtain a recent copy of your credit score&report. i got my credit score&report at

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