Credit Score Impact (LLPA)

What your credit score costs you

Conventional mortgages cost more when your credit score is lower or your down payment is smaller. Enter the home price, your down payment, your score, and a rate to see that extra cost in dollars, and what would bring it down.

Riskier loans carry a fee
Fannie Mae, which buys many conventional mortgages from lenders, charges an based mainly on your and your (how much of the price you borrow).
You pay it upfront or through the rate
The fee is a percentage of the loan. You can pay it in cash at closing, or the lender can raise your interest rate instead. We show both, so you can see the monthly and lifetime cost.
We compare you with a top score
Your cost is measured against a borrower with a 780+ score and the same loan, so you see what your score alone costs, and what reaching the next score tier would save.

The free score in a bank or card app is usually a newer model. Mortgage lenders use older FICO versions that often run 10 to 40 points lower, so enter a slightly lower number. How your credit score affects your mortgage

LOAN LENGTH (YRS)

Home price

Down payment

Credit score (FICO)

Rate before adjustment

Loan: $400,000 · : 80.0%

Extra fee at your score and down payment

$5,500

1.375% of the loan (“points”) · either paid upfront, or shows up as a +0.344% higher rate

↑ Get to 720 → save $2,969 over the loan

Your monthly (with the fee priced into the rate): $2,553

With a top (780+) score, same loan: $2,487

Same loan, same down payment. The only difference is the number on your credit report.

Risk fee (LLPA)

$5,500

1.375% of loan, if paid upfront

Or, as a higher rate

+0.344%

6.25% → 6.594% (at ~0.25% per point)

Extra per month vs top score

+$66

compared with a 780+ score

Extra over the loan

$23,643

vs a 780+ score, over 30 years

Raise score to 720

$8/mo

saves $2,969 lifetime

What this means

With a 700 score and 20% down, Fannie Mae’s pricing adds 1.375% of the loan: about $5,500 on your $400,000 loan if you pay it upfront. Folded into the rate instead, 6.25% becomes about 6.594%, which costs $66 a month more than a borrower with a 780+ score would pay ($23,643 over 30 years).

This applies to conventional loans; FHA, VA, and USDA loans price credit differently. Lenders also charge separately for mortgage insurance () under 20% down, which also depends on your score.

What would lower your fee

Raise your score to 720the next pricing tier, 20 points up−$500

Put $25,000 more downbrings loan-to-value to 75%−$2,219

Full fee table: LLPA matrix (purchase / rate-term refi)

Rows are credit score ranges; columns are loan-to-value (LTV), the share of the price you borrow. Each value is the fee as a % of the loan amount. Your cell is highlighted.

Score \ LTV	≤60%	60.01–70%	70.01–75%	75.01–80%	80.01–85%	85.01–90%	90.01–95%	95.01–97%
≥780	0.000	0.000	0.000	0.375	0.375	0.250	0.250	0.125
760–779	0.000	0.000	0.250	0.625	0.625	0.500	0.500	0.250
740–759	0.000	0.125	0.375	0.875	1.00	0.750	0.625	0.500
720–739	0.000	0.250	0.750	1.25	1.25	1.00	0.875	0.750
700–719	0.000	0.375	0.875	1.38	1.50	1.25	1.13	0.875
680–699	0.000	0.625	1.13	1.75	1.88	1.50	1.38	1.13
660–679	0.000	0.750	1.38	1.88	2.13	1.75	1.63	1.25
640–659	0.000	1.13	1.50	2.25	2.50	2.00	1.88	1.50
620–639	0.125	1.50	2.13	2.75	2.88	2.63	2.25	1.75
<620	0.125	1.50	2.13	2.75	2.88	2.63	2.25	1.75

Approximation of the Fannie Mae LLPA matrix as of Selling Guide SEL-2023-01 (May 2023). That 2023 grid framework is still current (the proposed DTI-based LLPA was rescinded before it took effect), but verify the current matrix at fanniemae.com before using these numbers as a hard quote. Real lender pricing varies (some absorb LLPAs into margin, others pass them through directly). The rate bump converts LLPA points to rate with a rule of thumb (1 point ≈ 0.25% of rate); actual rate sheets typically run about 4–6 points per 1% of rate (1 point ≈ 0.17–0.25%), so the true rate impact may be somewhat smaller. FHA, VA, and USDA loans don’t use this matrix. Use it to gauge the size of the credit score effect, not as a binding quote.

Results are estimates based on your inputs and the assumptions on this page, not quotes or advice. A lender, servicer, or tax advisor will give you different numbers. Disclaimer

Something look off? Report it

Terms used on this page

The shorthand lenders use when they price a conventional loan.

Credit score (FICO): A number from 300 to 850 summarizing how reliably you’ve repaid debt. Mortgage lenders use older FICO versions that often run lower than the score in consumer apps.
LLPA (loan-level price adjustment): An extra charge Fannie Mae and Freddie Mac add to conventional loans based on risk, mainly your credit score and down payment. Lenders pass it on as a fee or a higher rate. More
LTV (loan-to-value): Your loan divided by the home’s value. A $400,000 loan on a $500,000 home is 80% LTV. Lower LTV means a smaller fee. More
Points: Fees expressed as a percentage of the loan. One point is 1% of the loan amount, so 0.5 points on a $400,000 loan is $2,000. More
Conventional loan: A mortgage not backed by a government agency. Most are sold to Fannie Mae or Freddie Mac, which is why their pricing rules apply. More
Cash-out refinance: Replacing your mortgage with a bigger one and taking the difference in cash. It carries higher fees and, under these rules, a maximum of 80% LTV.
Principal and interest (P&I): The loan part of your monthly payment. A higher rate from a lower score raises it every month for the life of the loan.
PMI (private mortgage insurance): A monthly charge on conventional loans with under 20% down. It’s separate from the LLPA and also costs more at lower scores. More

Keep learning

Next steps

PMI calculator: mortgage insurance cost by score and down payment
Points calculator: whether to pay the fee upfront or take the higher rate
Affordability calculator: how a higher rate changes what you can afford
DTI scenario planner: the other number lenders check besides your score