A 680 credit score is very good for mortgage purposes. You qualify for every loan program with competitive rates that are noticeably better than the 620-660 range. Conventional loans become the clear winner over FHA at this level due to lower mortgage insurance costs and the ability to cancel PMI. You also have access to jumbo loans from a wider range of lenders.

The rate difference between 680 and 620 is typically 0.5-1.0%. On a $350,000 30-year loan, this saves approximately $100-$225 per month or $36,000-$81,000 over the life of the loan. Additionally, PMI rates at 680 are significantly lower, further reducing your monthly payment. This is one of the most impactful credit score ranges for mortgage pricing.

At 680, conventional loans are almost always the better choice. Conventional PMI at this score is lower than FHA MIP, and it cancels automatically at 80% equity. FHA mortgage insurance stays for the life of the loan for most borrowers. The only exception might be if you have a high debt-to-income ratio — FHA allows up to 57% DTI while conventional typically caps around 45-50%.

On a $350,000 home with 10% down ($35,000) and a 30-year conventional loan at approximately 5.5%, your estimated monthly payment would be around $1,789 for principal and interest, plus approximately $87 for PMI, $292 for property taxes, and $100 for homeowner's insurance — totaling roughly $2,268 per month. Actual amounts vary by location and specific terms.