Best Credit Score for Financing

[Kwanza P.]

What’s the threshold credit score for the best rates? I was told 780. I find this hard to believe. Am I wrong? 

[Elias Halvorson]

Hi Kwanza, 

It really depends on what type of loan (VA, FHA, Conventional, DSCR, etc). For instance, I'm a veteran and do a lot of VA loans and one bank I work with offers the same rate to veterans with a 685 credit score as they offer for veterans with a 758 credit score. However, for a conventional loan the pricing is significantly different. Typically, 760+ is the top, with maybe 10% of the banks having 780 and above as the highest tier.