What a 640 credit score gets you
Mortgage
Options available
Conventional and FHA are both open, and at 640 Fannie Mae's manual-underwriting rules allow an adjustable rate as well as a fixed one. The score is now one input among several; your down payment and debt-to-income ratio will shape the offer as much.
Car loan
Possible
Realistic, priced at the bottom of the published ladder: 640-659 is the most expensive band myFICO lists for car loans. Some lenders use FICO Auto Scores, which run from 250 to 900, so the number on the dealer's screen may not be 640.
Credit cards
Possible
You are near the bottom of the bracket the CFPB's card survey calls good. Apply for one card at a time; a string of applications adds inquiries without adding approvals.
Renting
Options available
Renting at 640 is mostly about the rest of the file: income, rental history, any eviction or collection. No official minimum score exists, and the CFPB found only about 2% of adults who rent have rent payments in their credit files at all.
These are broad credit-score categories, not approval odds. Lenders also assess income, debt, credit history and their own requirements.
What 640 costs you in interest
Read the two staircases below from your bar. On the mortgage, 640 is the second-most expensive band, one step better than the worst price. On the car loan, 640 is on the tallest bar of all, and the step down to 660 is the steepest on that chart.
$350,000 mortgage, 30-year fixed
At 640: 7.9%, $2,544 a month, $565,775 in interest over the loan.
| Score band | Rate | Monthly | Total interest | vs. best |
|---|---|---|---|---|
| 780–850 | 7.29% | $2,397 | $512,963 | – |
| 760–779 | 7.39% | $2,421 | $521,539 | +$8,576 |
| 740–759 | 7.47% | $2,440 | $528,423 | +$15,460 |
| 720–739 | 7.58% | $2,466 | $537,923 | +$24,960 |
| 700–719 | 7.63% | $2,478 | $542,254 | +$29,290 |
| 680–699 | 7.75% | $2,507 | $552,679 | +$39,716 |
| 660–679 Next | 7.79% | $2,517 | $556,165 | +$43,201 |
| 640–659 You | 7.9% | $2,544 | $565,775 | +$52,812 |
| 620–639 | 8.08% | $2,588 | $581,580 | +$68,617 |
$35,000 new car, 60 months
At 640: 9.19%, $730 a month, $8,786 in interest.
| Score band | Rate | Monthly | Total interest | vs. best |
|---|---|---|---|---|
| 780–850 | 6.2% | $680 | $5,794 | – |
| 760–779 | 6.24% | $681 | $5,834 | +$39 |
| 740–759 | 6.38% | $683 | $5,971 | +$177 |
| 720–739 | 6.4% | $683 | $5,991 | +$196 |
| 700–719 | 6.85% | $691 | $6,434 | +$640 |
| 680–699 | 7.5% | $701 | $7,080 | +$1,285 |
| 660–679 Next | 8.3% | $715 | $7,883 | +$2,088 |
| 640–659 You | 9.19% | $730 | $8,786 | +$2,992 |
National averages by FICO band from myFICO (data: Curinos), as of October 29, 2026. The rate you are offered depends on the lender, your down payment, income and debts. Where these rates come from.
What would a different score cost?
Same loan. Two scores. See the difference.
At 660 compared with 640
| Score | Reference rate | Monthly payment | Total interest |
|---|---|---|---|
| 640 | 7.9% | $2,543.82 | $565,774.81 |
| 660 | 7.79% | $2,517.12 | $556,164.73 |
At 660, the estimate is $26.69 less per month and $9,610.08 less interest over the full term.
Reference rates: 30-year fixed mortgages, October 29, 2026, myFICO (Curinos). Changing the amount or term holds these rates constant. Methodology.
What this estimate includes
Estimates use national average bands, not an offer or approval prediction. Your lender may use a different score. Mortgage payments exclude taxes, insurance, mortgage insurance and fees. Full-term interest assumes no refinancing, early payoff or extra payments.
How to get from 640 to 660
Twenty points from here usually comes from balances, applications and time. If an old late payment is behind the 640, time is already working: it weighs less every year it ages, as long as nothing new joins it.
- Get utilization down before statements close. Amounts owed are 30% of a FICO score, and it is the factor that moves fastest.
- Space out applications. New credit is 10% of the score. If you need a car and a house this year, put the mortgage first.
- Keep the old accounts. Length of credit history is 15% of the score, and closing your oldest card also takes its limit out of your utilization math.
- Check all three reports once. One wrong entry is easy to miss in a file that otherwise looks fine. Disputes are free.
One thing not to do: open a balance-transfer card or a personal loan just to shuffle debt before a mortgage. The inquiry and the new account hit first, and the lender sees the debt either way.
What a Fair score means (580 to 669)
The doors open: FHA mortgages, most car lenders, starter cards. The prices are the problem. 14.9% of Americans with a FICO score are in this range, according to Experian's 2025 data. What the fair range means in practice.
Questions about a 640 score
Can I get an adjustable-rate mortgage with a 640 credit score?
For a Fannie Mae loan, yes: 640 is the minimum for a manually underwritten ARM, and loans approved through its automated system have no minimum score at all. Individual lenders may still set their own.
Is 640 a good credit score for a car loan?
It is enough to get one, but 640-659 is the most expensive band in myFICO's published car-loan rates, and the step to 660 is a large one. Some lenders use FICO Auto Scores on a 250-900 scale, so the score they see may differ.
Sources (12)
- myFICO Loan Savings Calculator (rates by FICO band, data: Curinos), updated daily
- Fannie Mae Selling Guide B3-5.1-01, General Requirements for Credit Scores
- Fannie Mae Selling Guide Announcement SEL-2025-09 (minimum score removed for DU loans), November 5, 2025
- Fannie Mae Loan-Level Price Adjustment Matrix, September 30, 2026
- HUD Handbook 4000.1 (FHA minimum credit scores) and Mortgagee Letter 2026-11, October 8, 2026
- myFICO: FICO Score versions (base and industry-specific score ranges)
- CFPB: Large banks charge higher credit card interest rates than small banks and credit unions, February 2024
- CFPB: Tenant background checks market report, November 2022
- myFICO: What is a FICO Score? (score ranges and what goes into them)
- AnnualCreditReport.com (free reports from all three bureaus)
- CFPB: How do I dispute an error on my credit report?
- Experian: What is the average credit score in the U.S.? (share of consumers in each FICO range), 2025 data, published March 2026
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