Score is an input to the lender, not to our formula
The amortization formula needs a rate, a balance, and a term. It does not need a score. Inventing '680 gets 6.5%' would be a fake price sheet.
If two lenders quote different rates, put both in Compare Scenarios. The score may be part of why the rates differ. The math only needs the rates.
PMI is where score often shows up in cash
A lower score can mean a higher annual PMI rate on a conventional loan. The PMI field is editable for that reason. The 0.50% start is not a score-based quote.
FHA has its own credit standards. The FHA page flags a down payment under 3.5% because that is a common program minimum, not because we pulled your credit.
| Quote line | Field |
|---|---|
| Note rate | Interest rate |
| Annual PMI | PMI rate or monthly PMI |
| APR | Do not use it as the payment rate |
Calculators
Related guides
Sources
Common questions
Can I improve the result by typing a higher score?
There is no score field. Change the rate or PMI only when a quote supports it.
Which score do lenders use?
Mortgage lenders often use a specific model and the middle of three bureau scores. This site does not retrieve a report.