620 vs. 680 Credit Score: What Changes for Your Mortgage?

Get pre-approved with Tomo Mortgage 👉 https://tomo.com/mortgage/app/preappr... Run your own numbers with our free affordability calculator 👉 https://tomo.com/mortgage/affordabili... Why does your mortgage approval change at a 620 or 680 credit score? They aren't magic numbers, but they're two places where the price of your mortgage can change meaningfully. Loan Advisor John Khoury explains which score lenders actually use, what changed with the 620 cutoff in 2025, how credit pricing tiers work, and the moves he'd make if you're within 20 points of either cutoff. In this video: • Which credit score lenders actually use (it's probably not the one in your banking app) • Is 620 still a cutoff? What changed at Fannie Mae and Freddie Mac in late 2025 • How conventional loans are priced in credit score tiers • Why 680 can cut your mortgage insurance by around $60 a month on a $300K loan • How FHA mortgage insurance compares, and why FHA can be more attractive below 680 • The 20-point rule, plus 4 ways to raise your score before you apply • The LLPA waiver many first-time buyers don't know to ask about CHAPTERS 00:00 What changes at 620 and 680 00:43 Which credit score lenders actually use 01:06 Is 620 still the cutoff? What changed in 2025 02:05 How credit score pricing tiers work 03:08 Where 680 pays off: mortgage insurance 04:12 FHA vs. conventional mortgage insurance by score 05:00 Where your price changes 05:41 4 moves if you're within 20 points 06:39 The LLPA waiver for first-time buyers 06:59 The takeaway RESOURCES MENTIONED Free credit reports 👉 https://www.annualcreditreport.com Fannie Mae loan-level price adjustment (LLPA) matrix 👉 https://singlefamily.fanniemae.com/me... WATCH NEXT FHA vs. conventional: which one you'll actually qualify for 👉    • NEW FHA vs Conventional Loan Requirements ...   How much income you need for a $400K home 👉    • How Much Income You Need for a $400K Home ...   Questions? Drop them in the comments. We read them. About Tomo Mortgage: Tomo Mortgage charges no lender fees on home purchases or refinances. Licensed in 40 states + DC. John Khoury, Loan Advisor · NMLS ID# 1077581 Tomo Mortgage · NMLS ID# 2059741 Examples in this video are for illustration only and are not an offer or commitment to lend. Mortgage insurance figures are illustrative, not quotes. Pricing adjustments reference Fannie Mae's LLPA matrix for Classic FICO purchase loans at 90.01–95% LTV and may change. LLPA waiver eligibility requirements apply. Rates, mortgage insurance, rapid rescore timing, and qualification requirements vary. #HomeBuying #FirstTimeHomeBuyer #Mortgage