Gerald, I noticed you are located in the Memphis area, as well as I. The answer to your question really depends on what your lender that you are working with tells you. The higher the credit score, the better the rate. If you are looking into an FHA loan, then that could be different, since the MIP is going to increase soon. Your lender can discuss all the options with you about that also. Hope I was helpful ! Debbe Coletta, GRI,CRS,CRB, BROKER, OWNER HOMEFRONT REALTORS.