Can I get a mortgage with a 747 credit score?

Asked by: Taurean Abernathy  |  Last update: February 9, 2022
Score: 4.2/5 (35 votes)

A 747 FICO® Score is considered “Very Good”. Mortgage, auto, and personal loans are easy to get with a 747 Credit Score. Lenders like to do business with borrowers that have Very Good credit because it's less risky.

Can I buy a house with 747 credit score?

A 747 credit score is a good credit score. The good-credit range includes scores of 700 to 749, while an excellent credit score is 750 to 850, and people with scores this high are in a good position to qualify for the best possible mortgages, auto loans and credit cards, among other things.

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.

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)

43 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 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.

Is a 757 credit score good?

A 757 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'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.

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 ...

What is a good credit score to buy a house 2020?

Generally speaking, you'll need a credit score of at least 620 in order to secure a loan to buy a house. That's the minimum credit score requirement most lenders have for a conventional loan. With that said, it's still possible to get a loan with a lower credit score, including a score in the 500s.

How much of a loan can you get with a 600 credit score?

To qualify, you must have a fair credit score of 600 or above and a debt-to-income (DTI) ratio below 40%. Peerform uses a proprietary algorithm to determine your qualification. Through the marketplace, borrowers can get loans ranging from $4,000 up to $25,000 with limited loan term options of either 36 or 60 months.

Can I buy a house with a 727 credit score?

A 727 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.

Can you buy a house with a 740 credit score?

A FICO Score between 740 and 850 is generally considered to be in the very good to excellent credit score range to buy a home. If your score falls below this level, however, you may still be eligible for some mortgage opportunities in the financial marketplace.

Is 720 a good credit score?

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.

Is 725 a good credit score in 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. The credit score range is anywhere between 300 to 900.

Is a 740 credit score good?

Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 740 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.

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.

How do I get my credit score from 725 to 800?

How to Get an 800 Credit Score
  1. Build or Rebuild Your Credit History. ...
  2. Pay Your Bills on Time. ...
  3. Keep Your Credit Utilization Rate Low. ...
  4. Review Your Credit Score and Credit Reports. ...
  5. Better Loan Approval Odds. ...
  6. Lower Interest Rates. ...
  7. Better Credit Card Offers. ...
  8. Lower Insurance Premiums.