Just How Much Your Credit Score Impacts Your Interest Rate

While I was preparing my morning rate quote (I’ll follow up at RCG this afternoon in case of a rate change), I thought I would run a couple scenarios on how much your credit score now cost you…just one digit off and you are paying more for your mortgage. The following scenarios are based on a 30 year fixed rate conforming with a $500,000 sales price and a loan amount of $400,000 with taxes and insurance included priced with 1 discount/origination point. 720 Credit Score = 6.00% (APR 6.149%).