Will I Pay a Higher Mortgage Rate If My Credit Scores Are Low?

Hello. I am totally loving this Wednesday. The leaves are sparkling on the trees. OK, let's go. Will you pay a higher mortgage rate if your credit scores are low? Not really. I have first time home buyers that are currently getting below market rate of 4.75% despite the fact that, as of this writing 9/9/2026 1:14 pm the average 30 FHA interest rate is sitting at 6.55%.

Even with certain down payment program, they are getting mortgage rates below market. Of course these rates will not last, but still, they are saving a lot of money, in addition to getting a lower monthly mortgage payment. So in this instance, having low credit scores does not always translate to higher mortgage rates. 

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...