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680 Credit Score: Can I Buy With a Conventional Loan? (2026)

Quick answer

With a 680 credit score, a Conventional mortgage is likely score fit; underwriting required. 620 is a common lender benchmark, not a universal cutoff. Fannie Mae DU removed its 620 minimum for new casefiles from November 16, 2025 and uses a credit-risk assessment. Eligible 97% LTV programs have borrower and property restrictions. This is a score-based starting point, not an approval or rate offer. Lenders also review debts, documented income, down payment, reserves and property eligibility; compare written requirements before applying.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Which Conventional purchase loans fit a 680 credit score?

Loan typeScore-based outlookDown paymentOther conditions
ConventionalLikely score fit; underwriting required3%620 is a common lender benchmark, not a universal cutoff. Fannie Mae DU removed its 620 minimum for new casefiles from November 16, 2025 and uses a credit-risk assessment. Eligible 97% LTV programs have borrower and property restrictions.

What could a 680 score mean for rates and PMI?

Your score is above several common lender thresholds. A higher score can improve some rate/PMI quotes, but no specific savings can be promised. We have no verified score-specific rate spread or insurer quote for your file, so none is invented here. Credit models, LTV, debt ratios, occupancy, points and the rate lock can all change pricing.

Freddie Mac describes PMI as roughly $30–$70 monthly per $100,000 borrowed. That is an educational range, not a price band assigned to your 680 score. FHA mortgage insurance follows the HUD loan-amount/LTV schedule rather than a credit-score surcharge.

How does the FHA down-payment rule change at this score?

At 680, HUD’s score rule permits up to 96.5% LTV, requiring 3.5% down. For a $350,000 comparison home, cash down is $12,250, the base mortgage is $337,750, and financed upfront MIP is $5,911. At the common market-average rate the initial all-in illustration is $2,942/month. This is a nationally weighted tax/insurance comparison, not a 680-score offer; county FHA limits and lender approval apply.

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

The $350,000 comparison price is the supported price step closest to our population-weighted state ACS values, not a measured national home median. Tax is 1.064% yearly, insurance is $1,790/year, the term is 30 years, and annual FHA MIP is 0.55% initially. At less than 10% down, annual MIP generally lasts the loan term. HOA and other debt are excluded.

What should I improve before a mortgage application?

  1. Review your credit reports and dispute inaccurate late payments, balances or accounts with the reporting bureau.
  2. Pay every account on time. If an account is past due, discuss how to bring it current before shopping.
  3. Reduce revolving balances without taking on replacement debt; ask a loan officer which changes matter to your file.
  4. Avoid new credit applications, large financed purchases and closing established accounts immediately before closing.
  5. Compare lender overlays in writing. Compare credit-risk and PMI terms at the same LTV instead of assuming a higher score guarantees approval.

Improvement timing depends on reported information and scoring models. We do not promise a points increase or approve a loan, and are not a lender.

Compare purchase requirements

Conventional requirementsConventional purchase guide

Compare 680 by loan type

FHAVACONVENTIONALUSDAJUMBO

Compare nearby scores and home costs

620 score640 score660 score700 score720 score740 scoreAll credit scores$350,000 home costs

Frequently asked questions

Likely score fit; underwriting required. 620 is a common lender benchmark, not a universal cutoff. Fannie Mae DU removed its 620 minimum for new casefiles from November 16, 2025 and uses a credit-risk assessment. Eligible 97% LTV programs have borrower and property restrictions.

Your score is above several common lender thresholds. A higher score can improve some rate/PMI quotes, but no specific savings can be promised. We do not assign an invented score-based rate increase or PMI rate. PMMS is a market average, not a quote for this score. Obtain matching Loan Estimates and an insurer/lender PMI quote.

Review all three credit reports for errors, dispute inaccurate information, pay every bill on time, reduce revolving balances and avoid new accounts before closing. Do not close older accounts or pay a credit-repair company without understanding the consequences. Improvement timing depends on your actual credit file.

Not necessarily. Mortgage lenders can use different scoring models and bureau reports. Ask which score/model is used, whether joint applicants change the qualifying score, and what other underwriting conditions apply.

Sources

Data last updated November 5, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.