620 Credit Score Refinance
A 620 opens conventional rate-term and cash-out refinancing, on top of the FHA options you already had.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
A 620 credit score is the threshold where conventional refinancing opens, including cash-out. You now have the full menu: FHA refinances, conventional rate-term, and the ability to tap equity. Pricing at 620 is the lowest tier on the conventional scale, so the refinance works, but a higher score would improve the rate and reduce mortgage insurance.
The Full Menu at 620
At 620 you can refinance into a conventional loan, drop FHA mortgage insurance if you have built equity, or pull cash out for other goals. That flexibility is the main reason 620 matters.
The catch is pricing. A 620 is the worst conventional tier, so the rate and any PMI are higher than they will be at 640, 660, 680, and 700. If the refinance is not urgent, a small climb can meaningfully improve it.
| Refinance Type | Available at a 620 Score? |
|---|---|
| Conventional rate-term | Yes |
| Cash-out | Yes |
| FHA refinances | Yes |
| Pricing | Lowest conventional tier |
620 Score Refinance — FAQ
Yes. A 620 opens conventional and cash-out refinancing. The pricing is the lowest conventional tier, so the rate and any PMI are higher than at 640 or above, but the full menu is available.
If the refinance is urgent or rates have dropped a lot, 620 works. If not, climbing toward 640 or 660 improves the rate and lowers mortgage insurance, so a short wait can pay off.
A Refinance With a 620 Score?
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Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.