What a 700 credit score means
A 700 is Good on FICO's scale (670 to 739), 40 points below Very good at 740. It clears FHA's 580 line for 3.5% down and the 620 many conventional lenders look for, so on a conventional loan the score now mostly sets the price. On a $300,000 conventional purchase loan at 80% loan-to-value, Fannie Mae's fee for this score band is 1.375%, or $4,125; at 720 to 739 it would be $3,750.
Where 700 sits in the Good band
Compared with everyone else
FICO's fall 2026 report found 10.5% of scorable consumers below 550 and 48.1% at 750 or higher on FICO Score 8. A 700 sits between those groups, 50 points short of 750. A 700 is 14 points below 714 (the average) and 44 points below 744 (the median). FICO, fall 2026.
The same number on other scales
FICO 8, 9, 10 and 10T and VantageScore 3.0 and 4.0 all run 300 to 850, so 700 means the same position on each scale, though not the same band label: VantageScore tiers vary by publisher. FICO's auto and bankcard scores run 250 to 900. Your scores from different models and bureaus are usually different numbers. Every scale, explained.
Lender milestones from 500 to 800
A 700 clears 8 of the 13 cutoffs on our list. The next one is 720, 20 points away: next pricing band.
| Score | What changes there | From 700 |
|---|---|---|
| 500 | FHA floorFHA can insure loans for scores from 500 to 579 with at least 10% down. | Cleared |
| 580 | FHA with 3.5% downAt 580 FHA allows the 3.5% minimum down payment, and FICO calls the band "Fair". | Cleared |
| 620 | Common lender minimumMany lenders still require 620 for conventional loans, even after Fannie Mae dropped its own floor in automated underwriting. | Cleared |
| 640 | Next pricing bandFannie Mae's pricing grid steps every 20 points from 640 up to 780. | Cleared |
| 660 | Next pricing bandAnother 20-point step on Fannie Mae's loan-level pricing grid. | Cleared |
| 670 | FICO "Good"FICO labels 670 to 739 as Good. | Cleared |
| 680 | Next pricing bandAnother 20-point step on Fannie Mae's loan-level pricing grid. | Cleared |
| 700 | Next pricing bandAnother 20-point step on Fannie Mae's loan-level pricing grid. | Cleared |
| 720 | Next pricing bandAnother 20-point step on Fannie Mae's loan-level pricing grid. | 20 points to go |
| 740 | FICO "Very good"FICO labels 740 to 799 as Very Good, and it is another pricing step. | 40 points to go |
| 760 | Next pricing bandAnother 20-point step on Fannie Mae's loan-level pricing grid. | 60 points to go |
| 780 | Best mortgage pricing band780 is the top band on Fannie Mae's loan-level pricing grid. | 80 points to go |
| 800 | FICO "Exceptional"FICO labels 800 and up as Exceptional. Past this point, extra points rarely change a price. | 100 points to go |
Mortgages at 700
FHA
FHA rules allow 3.5% down
FHA's rules let a minimum decision credit score of 580 or higher qualify for maximum financing, which is 3.5% down on a purchase. At 700 you're 120 points above that line. On a $300,000 home, 3.5% is $10,500.
HUD's rules, per Mortgagee Letter 2026-11, which keeps the 580 and 500 lines for every score model FHA accepts. Lenders often set higher minimums, called overlays. FHA score rules in full.
Conventional
Clears the common minimums
At 700 you clear the 620 many lenders still require and Fannie Mae's manual-underwriting minimums (620 fixed, 640 ARM, on Classic FICO), though its eligibility matrix can ask for more depending on down payment and debt-to-income. From here, the score mostly changes the price.
Sources: Fannie Mae Selling Guide B3-5.1-01 and the DU 12.0 release notes. Conventional score rules in full.
What Fannie Mae charges at this score
Purchase loan, 75.01% to 80% loan-to-value, $300,000 loan
$4,125
1.375% of the loan, band 700 to 719
At 720 to 739, the next band up, the fee is 1.25%, or $3,750. That's $375 less on the same loan, and 20 points away. The top band, 780 or higher, pays $1,125.
| Score band | Fee | On $300,000 |
|---|---|---|
| 780 or higher | 0.375% | $1,125 |
| 760 to 779 | 0.625% | $1,875 |
| 740 to 759 | 0.875% | $2,625 |
| 720 to 739 | 1.25% | $3,750 |
| 700 to 719700 is here | 1.375% | $4,125 |
| 680 to 699 | 1.75% | $5,250 |
| 660 to 679 | 1.875% | $5,625 |
| 640 to 659 | 2.25% | $6,750 |
| 639 or lower | 2.75% | $8,250 |
This is a one-time loan-level price adjustment (LLPA) from Fannie Mae's matrix dated 09.30.2026, which uses one grid for Classic FICO and VantageScore 4.0 (FHFA). Lenders usually build it into your rate rather than billing it, other adjustments can apply, and rates change daily. How the fee becomes your rate.
Car loans at 700
Experian sorts auto borrowers into tiers by VantageScore 4.0. If your VantageScore 4.0 is 700, you'd be in its prime tier (661 to 780), 81 points below super prime at 781. Many auto lenders pull a FICO Auto Score (250 to 900) instead, so your tier at a given dealer can differ.
| $30,000 over 60 months | Prime (661 to 780)this score | Super prime (781 or above)next tier up |
|---|---|---|
| New car | ||
| Average APR | 6.15% | 4.41% |
| Monthly payment | $582.08 | $558.06 |
| Total interest | $4,924.80 | $3,483.60 |
| Used car | ||
| Average APR | 8.81% | 6.29% |
| Monthly payment | $619.99 | $584.04 |
| Total interest | $7,199.40 | $5,042.40 |
At these averages, moving from prime to super prime would cut total interest by $1,441.20 on the new-car loan and $2,157.00 on the used one.
Averages from Experian's State of the Automotive Finance Market for Q2 2026, as published by Experian on Sep 10, 2026. They are averages across many loans, not offers. Payments use standard amortization with a fixed rate, no fees and no down payment. Credit scores and car loans.
What usually holds a score at 700
At this level, the factors worth checking are the ones you can change on purpose: the balances your cards report, how new your accounts are, and any older negative item still inside its reporting period.
Reported balances
Most scores in use today, FICO 8 included, read only the latest reported balances, which makes utilization the quickest factor to change. Pay before the statement closing date, and if a loan application is coming, read paying down before you apply. FICO 10T and VantageScore 4.0 also look at balance trends.
Recent applications and new accounts
New credit is 10% of a FICO Score and length of history is 15%. Hard inquiries count in FICO for 12 months and stay on the report for two years. If you're shopping for a mortgage or car loan, rate-shopping windows group those pulls.
An older late payment
A late from a few years back can still sit on the report until its seven years run out. See how long late payments stay. If it's wrong, dispute it; if it's accurate, time is the fix.
Credit mix
Mix is 10% of a FICO Score. It's rarely worth taking on a loan for, but if you only have cards or only have loans, read how credit mix is scored.
Nobody outside FICO and VantageScore can tell you how many points any one change is worth, because it depends on everything else in your file. These are the places to look, not a forecast.
Common questions about a 700
Is 700 a good credit score?
FICO labels 670 to 739 as Good, so 700 is Good, 40 points below Very good. It is 14 points below 714, the average U.S. FICO Score in FICO's fall 2026 report.
Can you get a mortgage with a 700 credit score?
FHA allows 3.5% down at 580 or higher, so 700 meets FHA's own score rule, though lenders can set higher minimums. It also meets the 620 many lenders want for conventional loans. Fannie Mae's fee at this score is 1.375% of the loan at 80% loan-to-value, $4,125 on $300,000.
What car loan rate goes with a 700 credit score?
Experian's Q2 2026 data puts a VantageScore 4.0 of 700 in its prime tier (661 to 780), where the average APR was 6.15% for new cars and 8.81% for used. At the new-car average, a $30,000 loan over 60 months works out to about $582.08 a month. Those are averages, not offers, and your lender may use a different score.
Sources
- What is a credit score? (FICO score ranges), myFICO
- What's in my FICO Scores?, myFICO
- FICO Score Credit Insights, fall 2026 edition, FICO
- Mortgagee Letter 2026-11 (issued Oct 8, 2026), HUD
- Selling Guide B3-5.1-01, General requirements for credit scores, Fannie Mae
- Desktop Underwriter Version 12.0, November 2025 release notes, Fannie Mae
- Loan-Level Price Adjustment Matrix (09.30.2026), Fannie Mae
- Credit scores, FHFA
- Average car loan interest rates by credit score (Sep 10, 2026), Experian
Every figure on this page is computed from the published rules and averages above, checked October 11, 2026. This is education, not lending advice: lenders add their own requirements, and your offer depends on your full application.