Lots of factors go into the type of mortgage and the interest rate you can get. But your credit score is one of the most important. Consider the interest rate on a $200,000, 30-year, fixed-rate mortgage with no points.

Credit score of 680 or higher

5.375%

Interest paid after seven years

$71,280

Credit score of 620-680

6.0%

Interest paid after seven years

$80,003

Credit score of 600-620

6.25%

Interest paid after seven years

$83,508

Credit score of 580-600

6.75%

Interest paid after seven years

$90,539

With a credit score below 580 you might get an adjustable mortgage with an initial rate of 7.125 percent. But you'll pay almost $143,049 in interest over seven years.

Source: Bloomington branch of Summit Mortgage