Is this enough for a conventional loan?

Many lenders consider this range, but terms vary by lender and by your full profile. Strong income and lower debt improve your odds.

What will make the biggest difference now?

Debt-to-income ratio, cash to close, and a clean payment history matter a lot. A small credit improvement can still help pricing.

How should I compare offers?

Compare the rate, points, lender fees, and total cash to close. Mortgage pricing is opaque, so line-item transparency matters. Ralo shows the full breakdown so you can compare mortgage options more clearly.

Fair Credit

Mortgage Options for 620-659 Credit Score

This range is often the entry point for more conventional options. Pricing is still sensitive, so shopping and fee transparency matter.

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Pricing

Pricing: Improving but sensitive

Cash to Close

More down can help reduce costs.

Credit Tier

Fair

Available Loan Options

✓Conventional loans
✓Adjustable-rate mortgages
✓Some jumbo options with strong profiles

Challenges to Expect

Pricing is still higher than the most favorable tiers
Mortgage insurance can add to monthly costs
Lenders will look closely at debt and cash to close

Tips for Success

Keep balances low and avoid new debt

Document income clearly and consistently

Compare rate, points, and fees together

Consider points only if you plan to stay long enough to break even

Keep your finances stable through closing

Recommended Loan Types

Conventional

Varies by lender; stronger scores usually price better.

ARM

Varies by lender; stronger scores usually price better.

The Questions Everyone Asks

Related Resources

Other Credit Score Ranges

Poor500-579 Fair580-619 Good660-699 Very Good700-739 Excellent740-799 Excellent800-850

Ready to Get Pre-Approved?

Mortgage pricing is opaque. Compare rate, points, and fees side by side so you can see the real cost. Ralo shows every line item so you can compare mortgage options more clearly.

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