Can I get a home loan with a 747 credit score?

Asked by: Heath Pollich  |  Last update: February 9, 2022
Score: 4.6/5 (67 votes)

A 747 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.

What can I do with a 747 credit score?

A 747 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

What interest rate can I get with a 747 credit score?

With a credit score of 747, you'll receive—on average—an interest rate of 3.65 percent for a new vehicle and 4.29 percent for a used vehicle. This is very different from the rates you might get if you had a much lower credit score.

Can I buy a house with a 757 credit score?

A 757 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers.

Is 747 credit score good or bad?

According to credit information company, TranUnion CIBIL's website, the closer your score is to 900, the higher are the chances of your loan application getting approved. Generally, a credit score of 750 and above is considered to be a good score.

What credit score do I need to buy a house / mortgage? (FICO Scores for Standard & FHA Home Loans)

20 related questions found

Is a 736 credit score good?

A 736 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.

Is a 725 credit score good?

A FICO® Score of 725 falls within a span of scores, from 670 to 739, that are categorized as Good. ... 21% of U.S. consumers' FICO® Scores are in the Good range. Approximately 9% of consumers with Good FICO® Scores are likely to become seriously delinquent in the future.

What does a 760 credit score mean?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 760 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO® Scores in the Very Good range.

Can you have a credit score of 900?

A credit score of 900 is either not possible or not very relevant. ... On the standard 300-850 range used by FICO and VantageScore, a credit score of 800+ is considered “perfect.” That's because higher scores won't really save you any money.

Is a 750 credit score good?

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

What is a good FICO credit score?

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

Is 800 a good credit score?

Your 800 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

What's the highest credit score?

What's the Range?
  • Exceptional Credit: 800 to 850.
  • Very Good Credit: 740 to 799.
  • Good Credit: 670 to 739.
  • Fair Credit: 580 to 669.
  • Poor Credit: Under 5804.

What is the average credit score?

The average credit score in the United States is 698, based on VantageScore® data from February 2021. It's a myth that you only have one credit score. In fact, you have many credit scores. It's a good idea to check your credit scores regularly.

Is a 720 credit score good?

A 720 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.

Is a 730 credit score good?

A FICO® Score of 730 falls within a span of scores, from 670 to 739, that are categorized as Good. ... 21% of U.S. consumers' FICO® Scores are in the Good range. Approximately 9% of consumers with Good FICO® Scores are likely to become seriously delinquent in the future.

What is a good FICO score to buy a house?

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly payments.

Is 735 a Good credit score to buy a house?

A 735 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.

Is a 720 credit score Good enough to get a mortgage?

A conventional mortgage is often best for those with a credit score of 700 or higher. (Generally, the credit score requirement is 620 and above.)

How much of a home loan can I get with a 720 credit score?

With fixed-rate conventional loans: If you have a credit score of 720 or higher and a down payment of 25% or more, you don't need any cash reserves and your DTI ratio can be as high as 45%; but if your credit score is 620 to 639 and you have a down payment of 5% to 25%, you would need to have at least two months of ...

Can I get a mortgage with 725 credit score?

A 725 FICO® Score is considered “Good”. Mortgage, auto, and personal loans are relatively easy to get with a 725 Credit Score. Lenders like to do business with borrowers that have Good credit because it's less risky.

Is 725 a good credit score for a mortgage?

A 725 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. ... It can mean you're more likely to be approved when you apply for a credit card or loan. Good credit can also help you qualify for lower interest rates and better loan terms.

Is 730 a good credit score Canada?

In Canada, according to Equifax, a good credit score is usually between 660 to 724. If your credit score is between 725 to 759 it's likely to be considered very good. A credit score of 760 and above is generally considered to be an excellent credit score.