Your credit score is one of the strongest predictors of the interest rate a lender will offer. Borrowers in the highest score ranges (typically 760 or above) receive the most competitive pricing. Scores in the mid-600s still qualify for many loans, especially FHA, but the rate and fees are higher. The difference between a mid-6% rate and a low-7% rate on a $350,000 loan can exceed $100 per month and tens of thousands of dollars over 30 years.
Lenders pull the middle score of the three major bureaus (or the lower of two if only two are available). They also examine the full credit report for recent late payments, high credit utilization, collections, and the length of credit history. Paying down revolving balances, keeping old accounts open, and avoiding new credit applications in the months before you apply can all help lift the score.
Before you request formal quotes, check your own reports and scores. If the numbers are lower than you expected, take a few months to improve them—the savings often outweigh the cost of delaying the purchase. Once scores are in better shape, use the mortgage calculator with a realistic rate for your tier so the payment estimate matches what lenders are likely to offer.
Different loan programs have different minimums. Conventional loans generally prefer 620 or higher, FHA can go lower with larger down payments, and VA loans have no official minimum although most lenders look for at least 580–620. Knowing where you stand lets you target the right program and avoid wasted applications that can temporarily ding the score further.