Picture this: you're checking out houses online, got Zillow tabbed in, and you keep wondering, “Can I actually afford this?” If your credit score’s around 700, you’re sitting in a pretty decent spot—better than most, actually. Lenders usually call a 700 score 'good,' right in the sweet spot between just-okay and truly excellent.
But here's where it gets real. That three-digit number is only part of the story. Sure, a higher score means fewer hurdles, but lenders size you up by looking at way more than just your credit. They also want to know your income, debts, and how steady your job is. Think of your 700 score as a green light—it’ll get you moving, but it doesn’t guarantee you the full speed lane.
So if you’re gearing up to buy a home online and want real answers about what that 700 score can unlock, you’re in the right place. We’ll break down how lenders decide what you can borrow, what kind of down payment helps, and how you could squeeze out better terms on your next mortgage.
- What Does a 700 Credit Score Really Mean?
- How Much Will Lenders Let You Borrow?
- Other Things That Affect Your Loan Limit
- Tips for Getting the Biggest Loan (and the Best Terms!)
What Does a 700 Credit Score Really Mean?
So, what’s up with a 700 credit score? Basically, it puts you in the “good” credit zone, not quite elite but definitely above average. On most scoring systems—like FICO, which most lenders use—the range goes from 300 to 850. If you’ve pulled off a 700, you’re ahead of the pack since the average U.S. score hovers closer to 715 right now.
Lenders see a 700 and think you can handle responsibility—you pay your bills, keep your debts in check, and haven’t blown it with defaults or wild spending sprees. It’s not just about bragging rights. With a score like this, you’re likely to snag better interest rates and more loan options compared to folks with lower numbers.
Check this out—here’s how the biggest credit scoring models group things:
| Score Range | Category |
|---|---|
| 300-579 | Poor |
| 580-669 | Fair |
| 670-739 | Good |
| 740-799 | Very Good |
| 800-850 | Excellent |
But here’s the real kicker for home buying: even though 700 is “good,” premium deals on mortgages usually go to folks above 740. Still, a 700 means you’ll probably qualify for mainstream mortgage programs—think conventional loans, FHA, and even online property options.
Want your number to climb higher? Focus on these basics:
- Pay all your bills on time every month.
- Keep your credit card balances low—shoot for under 30% of your limit, lower is even better.
- Avoid new debts or big credit inquiries right before applying for a home loan.
So, if you’re eyeing a place online and your 700 credit score is locked in, you’re in a solid spot. Still, don’t stop there—every extra point can save you real cash over the life of your loan.
How Much Will Lenders Let You Borrow?
If you’ve locked in a 700 credit score, lenders see you as a pretty safe bet. In most cases, this gets you in the door for popular mortgage types like conventional, FHA, and VA loans. But how much you can actually borrow? That's where your finances matter just as much as your score.
Lenders use what’s called your debt-to-income ratio (DTI) to figure out your max loan amount. Basically, your monthly debt payments — like car loans, credit cards, and the new mortgage — shouldn’t chew up more than about 43% of your pretax income for most programs. If your monthly gross income is $6,000, that means all your debts combined (including your future house payment) shouldn’t be more than $2,580 each month.
When you start applying, expect lenders to estimate your borrowing power with a formula that looks something like this:
- They check your gross monthly income.
- They total up all your monthly debts.
- They figure out your down payment amount.
- They consider current interest rates, which play a big part in your future payment.
Here’s a quick example. With a 700 credit score, a solid job, and average debt, most lenders would typically let you borrow 4 to 5 times your annual income — assuming your DTI checks out. So if you make $75,000 a year, you might be looking at a loan range around $300,000 to $375,000.
| Annual Income | Estimated Max Loan (4x) | Estimated Max Loan (5x) |
|---|---|---|
| $60,000 | $240,000 | $300,000 |
| $80,000 | $320,000 | $400,000 |
| $100,000 | $400,000 | $500,000 |
The numbers shift based on your down payment, monthly debts, and even where you’re trying to buy. Some cities have higher minimums and bigger price tags, so your borrowing might be capped by the type of loan you use. Don’t forget — a bigger down payment or very little other debt can bump up your max amount.
So bottom line? With a 700 credit score, you’re not just stuck with entry-level offers. If you’ve got your income and debts in a good spot, you can often borrow enough for that house you’ve been eyeing online.
Other Things That Affect Your Loan Limit
Your 700 credit score is solid, but banks and mortgage lenders care about more than just that number. Here’s what they actually look at when deciding your borrowing power:
- Debt-to-Income Ratio (DTI): This one’s huge. Lenders want to see that you’re not drowning in debt compared to what you earn. They like your monthly debts (including the new mortgage) to stay under 43% of your gross income, but if you can swing lower—like under 36%—you’ll open more loan options and better rates.
- Stable Income: If you’ve had the same job for a couple years or have steady income coming in, banks feel way better about lending you money. Bouncing between gigs? That could make them think twice, even with a strong credit score.
- Down Payment: How much you can put down affects your loan size and terms. A higher down payment (like 20%) makes you less risky to the lender, so you might qualify for a bigger amount and skip things like private mortgage insurance (PMI).
- Loan Type: Different loans have different borrowing limits. For 2025, the standard limit for a conforming conventional loan is $766,550. But FHA, VA, and jumbo loans all have their own rules and cap amounts.
- Credit History Details: Beyond the score, lenders peek at recent late payments, bankruptcies, or big new debts. Too many of these red flags can slash your max loan fast.
Here’s a quick look at how these factors can influence your max mortgage:
| Factor | What Lenders Want |
|---|---|
| DTI (Debt-to-Income) | Under 43% is preferred, under 36% is best |
| Down Payment | 20% or more = stronger file and no PMI |
| Job/Income Stability | 2+ years in same line or proof of steady income |
| Recent Credit Issues | No late payments, collections, or big debts |
Bottom line: even with a strong 700 credit score, your max loan is a package deal. If you want the most buying power, pay down debts, keep your job steady, and try to save up a fatter down payment. Those moves can mean a bigger loan and a smoother process—whether you’re buying in-person or going all-in online.
Tips for Getting the Biggest Loan (and the Best Terms!)
If you’re sitting on a 700 credit score and want to squeeze every dollar from your lender, it’s not enough to just cross your fingers and click “apply.” You’ve got real options. Let’s dig in.
- Boost your down payment. Bigger down payments almost always get you more loan offers and better rates. Put down 20% if you can—it’ll also help you dodge that annoying private mortgage insurance (PMI) cost every month.
- Lower your debt-to-income ratio (DTI). DTI is just a fancy way of saying how much of your monthly paycheck is already going to pay off debts. Lenders usually want to see it below 43%, but the lower, the better. Try paying off some credit cards or personal loans before applying.
- Shop around hard. Don’t just look at one bank or website. Use at least three lenders, including some online mortgage companies. Some will pull FICO 5, others use FICO 8—sometimes the score they use is actually a bit higher than what you see.
- Cut back on big new spending. Don’t buy a car or open a bunch of new credit cards right before getting your mortgage loan amount checked. These moves can lower your score or signal risk to lenders.
- Get your paperwork ready. Have pay stubs, tax returns, and bank statements handy. Any missing docs mean delays, and in a busy online property market, messing around can kill your deal.
Here’s something that surprises a lot of buyers: just a small improvement in your credit score can make a huge difference in what you’ll pay over the life of your loan. Online property lenders use tiered rates. This table lays it out with real numbers for a $350,000 loan, 30-year fixed, as of early 2025:
| Credit Score Range | Interest Rate | Monthly Payment |
|---|---|---|
| 680–699 | 7.2% | $2,380 |
| 700–719 | 6.7% | $2,258 |
| 740+ | 6.2% | $2,149 |
That’s more than $200 a month, or close to $75k saved over the full loan, just by ticking up 40 points.
Last tip: always read the fine print. Some lenders slip in extra fees or early payoff penalties, especially with online-only offers. Call them out if it doesn’t add up. If your offer doesn’t feel right, you can keep looking. In 2025, more legit lenders are online than ever before, so finding your best deal—or snagging a bigger loan approval—is just a bit of legwork and smart timing.
