640 Credit Score Refinance
A 640 improves conventional refinance pricing over 620 and brings USDA streamline options into play.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
A 640 credit score refinances on better terms than a 620. Conventional rate-term and cash-out are available with improved pricing, and 640 is also where USDA streamline refinancing opens for eligible rural-area loans. You have a wide set of options here, and pricing keeps improving as the score climbs toward 660 and 700.
More Options, Better Rate
At 640 the conventional refinance rate steps up from the 620 floor, and cash-out terms improve too. If you have an FHA loan with equity, refinancing to conventional to drop insurance is more attractive at this pricing.
USDA streamline refinancing also comes into reach at 640 for borrowers with a USDA loan in an eligible area. Across the board, 640 gives you a healthy menu, with further rate gains waiting at 660 and 700.
| Refinance Type | Available at a 640 Score? |
|---|---|
| Conventional rate-term | Yes — better than 620 |
| Cash-out | Yes, improved terms |
| USDA streamline | Opens at 640 |
| Next Breaks | 660, 680, 700 |
640 Score Refinance — FAQ
It is solid. A 640 refinances on better terms than 620 across conventional rate-term and cash-out, and it opens USDA streamline for eligible loans. Pricing keeps improving at 660 and 700.
Yes, if you have enough equity. Refinancing from FHA into a conventional loan at 640 can cancel mortgage insurance, and the pricing is better than it would be at the 620 floor.
A Refinance With a 640 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.