A 720 score gives you access to most conventional loan products. Small improvements could unlock even better rates.
At 720, you qualify for conventional loans at near-best rates. The difference between 720 and 740 is typically 0.15-0.25% in rate — worth pursuing but not critical.
🔍 Also explore: All FRC Research Tools · Zai — File Analysis · FHA State Map · Lender Stress Index
Credit-score thresholds are the visible half of qualifying. The other half is which lender receives your file — and that half is measurable. In the complete 2025 federal HMDA record (1,187,606 FHA applications that reached a credit decision), denial rates across the 100 largest FHA lenders ranged from 1.8% to 78.7%. Same federal program, same year: a 44× spread.
And it is not simply a matter of who applies where. Holding state, loan amount, income, debt-to-income and loan-to-value constant across 24,933 borrower-profile cells, applicant mix explains only a 2.9× range — while the observed spread stays 44×.
CFPB HMDA 2025, computed by FinanceRateCalc · decisioned = actions 1,2,3 · rates partly reflect applicant mix · historical observation, not a prediction about any individual application · free, CC BY 4.0.