A 750 credit score is considered a very good FICO® Score. With this score, you will be eligible for all types of loans that lenders have to offer. The chances of a lower interest rate are also higher with a 750 credit score. According to Experian® data, someone with a 750 credit score would pay an average mortgage rate of 2.75% for a $300,000 loan for a period of 30 years. Compare that to the 4.11% of a person with a fair credit score in the range of 620-629 who would pay on the same loan.
As mentioned before, you could qualify for all types of loans: conventional, government-insured, fixed-rate, or adjustable-rate loans. Conventional loans are not supported by the government. You may have to put down a bigger down payment, usually 20%, for lower interest rates. Government-backed loans like those from the Federal Housing Administration (FHA), United States Department of Agriculture (USDA), or United States Department of Veterans Affairs (VA) (if you are in active service, a veteran, or a surviving spouse) are a great option for anyone with fair to excellent credit.
Other factors that matter in getting the best out of your loan are your down payment amount, the term of the loan, and the property location. Your credit score is an important factor for lenders because it indicates the likelihood that you will pay back the loan on time. Apart from your credit score, lenders also look at your income, cash reserves, employment status, and debt-to-income ratio.
FAQs
What types of loans can I get with a 750 credit score? With a 750 credit score, you're in the running for pretty much every kind of home loan. FHA loans, VA loans and USDA loans all have much lower minimum credit score requirements, and conventional loans have a minimum credit score requirement of 620.
How much money can I borrow with a 750 credit score? ›
You can borrow $50,000 - $100,000+ with a 750 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What kind of interest rate can I get with a 750 credit score? ›
As of Dec. 18, 2023, FICO reports that with a 750 credit score, the annual percentage rate (APR) on a 30-year fixed-rate conventional mortgage for $300,000 would be 6.416%. The monthly payment would be $1,880.
What credit limit can I get with a 750 credit score? ›
What credit score is needed to get a high-limit credit card?
| VantageScore 3.0 credit score range | Average credit card limit |
|---|
| 300–640 | $3,481.02 |
| 640–700 | $4,735.10 |
| 700–750 | $5,968.01 |
| 750+ | $8,954.33 |
Mar 15, 2024
A 750 credit score generally falls into the "very good" range, which shows lenders that you're a very dependable borrower. People with credit scores within this range tend to qualify for loans and secure the best mortgage rates. A 750 credit score could help you: Qualify for a mortgage.
How much house can I afford if I make $36,000 a year? ›
On a salary of $36,000 per year, you can afford a house priced around $100,000-$110,000 with a monthly payment of just over $1,000. This assumes you have no other debts you're paying off, but also that you haven't been able to save much for a down payment.
What type of home loan can I get with a 750 credit score? ›
With a 750 credit score, you're in the running for pretty much every kind of home loan. FHA loans, VA loans and USDA loans all have much lower minimum credit score requirements, and conventional loans have a minimum credit score requirement of 620.
Is a 750 credit score good enough to buy a house? ›
Conventional loans have a minimum credit score requirement of 620; this is why with 750, you have a solid chance of getting approved.
Is there a big difference between 750 and 800 credit scores? ›
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.
How rare is a 750 credit score? ›
A score of 750 puts you in a strong position. Roughly 48% of Americans had a score of 750 or above as of April 2023, according to credit scoring company FICO.
Credit score distribution: How rare is an exceptional 800 to 850 score?
| FICO® Score range | Percent within range |
|---|
| 650-699 | 12% |
| 700-749 | 17% |
| 750-799 | 24% |
| 800-850 | 23% |
4 more rowsMay 31, 2023
Forbes Advisor Ratings
| Best High Limit Credit Cards | Forbes Advisor Rating | Credit Limit |
|---|
| Flipkart Axis Bank Credit Card | 4.0 | Up to 5 lakh |
| HDFC Regalia Credit Card | 3.5 | Up to 5 lakh |
| Axis Magnus Credit Card | 3.0 | INR 5 lakh |
| Axis Bank Reserve Credit Card | 2.5 | 5 lakh |
1 more rowMaintain a consistent payment history
Consistently paying back debt can be the best way to raise your credit, but it takes time. Speaking of time, make sure you pay your bills on time. Create a pattern of consistency that you can show to lenders, and you will start to see your credit rise over time.
Can you get a FHA loan with a 750 credit score? ›
You could qualify for a low rate with an FHA loan if your credit score is 725, 730, 735, 740, 745, 750, 755, or 760.
How much of a personal loan can you get with a 750 credit score? ›
You can borrow $50,000 - $100,000+ with a 750 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What credit score do I need to buy a house with no money down? ›
A USDA loan is insured by the U.S. Department of Agriculture and is meant for low- to moderate-income home buyers. The USDA doesn't require a down payment and doesn't set a minimum credit score requirement, though most lenders will want borrowers to have at least a 640.
Is 750 a good credit score for a personal loan? ›
Ans. No lender specifies a minimum CIBIL score requirement for a personal loan application. However, a score of 750 and above is preferred by lenders for loan applications. This score reflects the creditworthiness of the borrower and the chances of lenders approving the loan application with this score increases.
Can I get a $50000 loan with a 700 credit score? ›
You will likely need a credit score of at least 580 for a $50,000 personal loan, along with enough income to afford the monthly payments. Other common loan requirements include being at least 18 years old, having a valid bank account, and being a U.S. citizen, permanent resident, or visa holder.
Can I get a $100,000 loan with a 700 credit score? ›
The highest personal loan amount you can usually find is $100,000. While you may qualify for a $100,000 personal loan with a 700 credit score, it's not guaranteed. If you have a lot of debt or an unfavorable debt-to-income ratio, some lenders may limit how much they are willing to loan.
Is there a difference between a 750 and 800 credit score? ›
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.
