With a FICO score of 740 or higher, you’re likely to get the most favorable interest rate available, especially on a conforming (non-jumbo) conventional loan.
Conventional loans tend to require higher scores.
How much of a loan can I get with a 740 credit score?
36% Individuals with a 740 FICO® Score have credit portfolios that include auto loan and 33% have a mortgage loan.
What kind of loan can I get with a 750 credit score?
A 750 credit score could qualify you for a $200,000 30-year mortgage, at a rate of 3.625 percent. That translates to a monthly payment of $912. With a credit score of 625 however, your rate would be 4.125 percent for a mortgage of the same size and term.
What kind of car loan can I get with a 740 credit score?
With a credit score between 740 and 749, you are going to qualify for prime loans at a higher interest rate than if you were able to increase your credit score to 780+. Because you are so close to receiving super prime credit score rates it may make sense to consider spending 30, 60, or 90 days building your credit.
What kind of loan can I get with a 800 credit score?
An 800-plus credit score shows lenders you are an exceptional borrower. You may qualify for better mortgage and auto loan terms with a high credit score. You may also qualify for credit cards with better rewards and perks, such as access to airport lounges and free hotel breakfasts.