720 Credit Score Refinance
A 720 earns near-best refinance pricing on every option. The top tier is just ahead at 740.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
A 720 credit score earns near-best refinance pricing. Rate-term and cash-out both price strongly, PMI on any refinanced conventional loan is low, and your options are unrestricted. The top tier opens at 740, so a 720 is one step from the best the scale offers, with only a small remaining gain.
One Step From the Top
At 720 a refinance prices about as well as it gets short of the top tier. Cash-out is competitive, and refinancing out of FHA insurance is clearly beneficial with equity.
The 740 break is the last one. If you are close, reaching it can shave the rate on a large refinance; if not, 720 is already excellent, and there is little reason to delay a refinance that makes sense today.
| Refinance Type | Available at a 720 Score? |
|---|---|
| Conventional rate-term | Near-best |
| Cash-out | Strong pricing |
| Final Break | 740 |
| Above 720 | Small gain |
720 Score Refinance — FAQ
Nearly. A 720 earns near-best refinance pricing across rate-term and cash-out. The top tier opens at 740, so a 720 is one step away with only a small remaining gain.
Usually not, unless 740 is close and the loan is large. The gain from 720 to 740 is small, so a refinance that makes sense today is generally worth doing rather than waiting.
A Refinance With a 720 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.