What Mortgage Rate Should I Get With a 700-719 Credit Score and 3% Down in Texas? (2026)
Last Updated: June 2026 · Data: Optimal Blue OBMMI via Federal Reserve FRED API
2026 Market Benchmark
Competitive Range
7.375% – 7.875%
Above Market
Above 7.875%
Source: Optimal Blue OBMMI via Federal Reserve (FRED) · Based on 700-719 credit, 3% down, Texas
Your Borrower Profile
Credit Score
700-719
Good credit — good credit with modest rate premium
Down Payment
3%
97% LTV · PMI required — adds to monthly cost
State
Texas
Rates can vary slightly by state due to local market conditions and lender competition
What Counts as Competitive?
Competitive: 7.375% – 7.875%
Within normal market variation. Acceptable to close without pushback, though shopping a second lender is always worthwhile.
Slightly Above: 7.875% – 8.125%
Above the competitive band. Request a rate match from a competing lender and use it as leverage with your preferred lender.
Significantly Above: Over 8.125%
This rate is substantially higher than market. Get at least two additional quotes before proceeding — the difference over 30 years is significant.
Negotiation Leverage for This Profile
With good credit (700-719) and 3% down, you are a solid borrower. Most lenders will offer competitive rates, and shopping multiple lenders is effective.
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