Yes, you can likely buy a house with a 670 credit score, as it's considered "good," but you might not get the best interest rates; you'll probably qualify for conventional loans (minimum 620) and FHA loans (minimum 500-580), with VA/USDA options available, though lenders look at your income, debt, and down payment too.
With a 670 credit score (considered "good"), you can often get personal loans from $1,000 to $100,000 or more, depending on the lender and your overall financial picture, though you might face higher interest rates and stricter terms than someone with excellent credit, with typical loan amounts averaging around $15,000 from lenders like SoFi, Wells Fargo, or Upgrade, but always check your income, debts, and compare offers.
Depending on the lender, you need a minimum credit score between 620 and 680 to qualify for a conventional mortgage. This number signals to lenders that you're a low risk for defaulting on your mortgage, making you a good candidate for a home loan.
A 670 credit score is considered a good credit score on the FICO scoring model — but only just barely. It's on the cusp of “fair” and “good.” You'll likely be able to qualify for credit cards, personal loans, mortgages, and auto loans, but 670 is not good enough to get the industry's best rates and lowest fees.
Reaching a top-tier score, however, demands more time and consistent effort. If you're new to credit, it may take six months to a year to reach a solid score of around 700 using FICO® or VantageScore® models. Hitting an exceptional score of 800 or higher often takes years of careful and responsible credit management.
A 670 FICO® Score Score is Good, but by earning a score in the Very Good range, you could qualify for lower interest rates and better borrowing terms.
Ways to improve your credit score
Paying your loans on time. Not getting too close to your credit limit. Having a long credit history. Making sure your credit report doesn't have errors.
With a credit score of 650, you can get a conventional loan. In fact, many lenders require a minimum of 620, so you should have no problem finding one if your DTI and down payment meet their standards. Of course, you'll still likely face higher rates than borrowers with greater scores.
With a 675 credit score, individuals may still be able to qualify for credit cards, loans and mortgages, but they may face higher interest rates and potentially less favorable terms compared to those with higher credit scores.
Improving Your Credit Score
Best Credit Cards for a 670 Credit Score
For most people, increasing a credit score by 100 points in a month isn't going to happen. But if you pay your bills on time, eliminate your consumer debt, don't run large balances on your cards and maintain a mix of both consumer and secured borrowing, an increase in your credit could happen within months.
There is no minimum credit score required to buy a car, but most lenders have minimum requirements for financing. Most borrowers need a FICO score of at least 661 to get a competitive rate on an auto loan.
A 690 credit score is good but slightly below the national average. Individuals can qualify for various loans and credit cards, though not with the best terms. Timely payments are essential, constituting 35% of the FICO Score. Keeping credit utilization low, ideally between 10% and 30%, is crucial.
Key takeaway: There's no single move that'll instantly raise your credit scores. But paying your bills on time, keeping your credit card balances low, and making sure your credit reports are accurate are three of the most effective ways to improve your credit over time.
It's partly true: most negative items like late payments and collections are removed from your credit report after about seven years, but the underlying debt often still exists, and bankruptcies (Chapter 7) last 10 years, so your credit isn't entirely "clear" but mostly refreshed from old negatives. The 7-year clock starts from the date of the original delinquency, not when you paid it off or sent to collections, and the debt itself can still be pursued by collectors.
Although having a credit score of 670 puts you in the “good” range, you'll want to work on improving your score if you want to get even better interest rates. For FHA, VA, and USDA loans, having a 680 score gets you a slightly better deal.