There are three factors that determine your rate. You could have a 680 and still qualify for the same rate as a 750 credit score. As of Monday rates for a 30yr Fixed Rate Convential Conforming loan $417,000 or less, have dropped to 5.625% from 6.25% on Friday. To qualify for this rate you must be able to show your income and put at least 10% down and have verified assets. If you are self employed you need to show your tax returns, all pages and have verified assets. You will not qualify for this rate if you don't plan on living in the home. If you have a 750 credit rating, I would only suggest an FHA loan if you don't have much money to put down. FHA is the replacement for ALT A financing.