Best Mortgage Lenders for a 700+ Credit Score

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Contributor, Benzinga
April 1, 2025
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A credit score of 700 qualifies you for most kinds of mortgages, though your rates may not be as competitive as those with higher scores. 

If you’ve built a credit score of 700, your credit score is considered good, and you open the door to various loan products with more competitive rates and terms. This includes mortgages, as most types of loans – including conventional loans, USDA loans and jumbo loans – are available to borrowers with a 700 credit score. 

Still, every lender is different when qualifying for a mortgage, and you may not qualify for the best rates reserved for those with excellent credit. To find the best mortgage lender for a 700 credit score, consider the type of loan that best suits your needs and your other qualification factors, such as your debt-to-income (DTI) ratio and employment history. 

Quick Winners List

Best Overall: New American Funding

Pros: 

  • Guaranteed closing in 14 business days on many loans 
  • Educational resources for first-time homebuyers
  • Wide variety of loan types
  • Non-QM loans available

Cons: 

  • Some fees not disclosed
  • Limited branch locations in many states

Nitty Gritty: New American Funding offers various loan types for all kinds of borrowers, including FHA, VA, USDA, and non-QM loans. The lender also offers plentiful resources for first-time homebuyers, including educational content on its website and down payment assistance programs. Its loan application, approval and closing process are quick and easy, and the lender offers a 14-business-day loan closing guarantee on many of its loans. 

Specs: 

  • Minimum credit score: 580
  • Minimum down payment: 3%
  • Loan types offered: Conventional, FHA, VA, construction, USDA, non-QM, interest-only and Jumbo loans
  • States served: All 50 states

Best for Self-Employed Borrowers: CrossCountry Mortgage

Pros: 

  • Bank statement, 1099 and asset qualifier loans available 
  • Variety of other loan types, including VA and USDA loans
  • Accessible credit score requirements
  • Educational resources for first-time homebuyers

Cons: 

  • Must provide personal information to access rates
  • No online pre-approval 

Nitty Gritty: CrossCountry Mortgage stands out for its flexibility and variety of loan options for many borrowers. The lender offers loans to borrowers with credit scores as low as 500. CrossCountry also provides various non-qualified mortgage loans that make it a great choice for self-employed borrowers without W-2 income, including 1099, bank statement and asset qualifier loans. 

Specs: 

  • Minimum credit score: 500
  • Minimum down payment: 3%
  • Loan types offered: Conventional, FHA, VA, USDA, non-QM and Jumbo loans
  • States served: All 50 states

Best for First-Time Homebuyers: LoanDepot

Pros: 

  • “No steering” policy
  • Flexible loan terms available 
  • Faster-than-average closing times
  • First-time homebuyer program available

Cons: 

  • Rates not disclosed online
  • Fewer loan options than competitors

Nitty Gritty: LoanDepot is a direct mortgage lender boasting low rates and quick closing times. The lender offers both adjustable- and fixed-rate mortgages with flexible term options. The lender also has an excellent customer service reputation, high TrustPilot scores, and highly-rated mobile apps. Its website hosts a comprehensive learning center with resources for first-time homebuyers, who may qualify for a cash bonus when working with the lender. 

Specs: 

  • Minimum credit score: 580
  • Minimum down payment: 3.5%
  • Loan types offered: Conventional, FHA, VA and Jumbo loans
  • States served: All 50 states

Best for In-Person Support: Chase Home Lending

Pros: 

  • Extensive branch network
  • Variety of loan programs
  • Guaranteed on-time closing
  • Relationship rates and discounts available for existing Chase customers

Cons: 

  • Full application process cannot be completed online
  • Not all products available in all states

Nitty Gritty: Chase Home Lending can be a great option for borrowers who prefer in-person support, offering an extensive network of branch locations where you can speak with a loan officer. It offers several loan types, including conventional, FHA and VA loans, and its DreaMaker loan provides lower down payments for eligible first-time homebuyers. Eligible loans are backed by an on-time closing guarantee as well. 

Specs: 

  • Minimum credit score: Not disclosed
  • Minimum down payment: 3%
  • Loan types offered: Conventional, FHA, VA and Jumbo loans 
  • States served: All U.S. states

Best for Flexible Terms: SoFi

Pros: 

  • Flexible loan terms available
  • On-time closing guarantee
  • Online pre-approval
  • View personalized rates online

Cons: 

  • Higher minimum credit score requirements than some competitors
  • No USDA loans

Nitty Gritty: SoFi Mortgage offers transparency and flexibility to its borrowers, thanks to personalized online rates with no impact on your credit score, a variety of available loan terms and a streamlined online application process. It requires slightly higher minimum credit scores on some of its loans than competitors but still offers several options for those with good credit. Plus, its loans are backed with an on-time closing guarantee. 

Specs: 

  • Minimum credit score: 600
  • Minimum down payment: 3%
  • Loan types offered: Conventional, FHA, VA and Jumbo loans
  • States served: All U.S. states except New York

Is 700 a Good Credit Score?

If you have a credit score of 700, you are considered to have a “good” score. FICO – a credit scoring company used by most lenders – defines good scores as between 670 and 739. Scores over 740 are considered “very good,” and scores over 800 are considered “exceptional.”

That means if you score over 700, you are more likely to qualify for loans with better terms, including mortgages. 

“A 700 FICO is generally considered to be strong and should qualify a borrower for most mortgage products,” said Scott Bridges, chief consumer direct lending production officer at Pennymac. 

You may qualify for even better interest rates and terms if your score is higher. 

How to Choose a Mortgage Lender if You Have a 700 Credit Score

With a credit score of 700, you are eligible for most types of mortgages, as long as you meet other requirements. 

“This score typically opens access to conventional loans backed by government-sponsored entities (Fannie Mae and Freddie Mac), government-backed loans (FHA, VA), and nonconventional loans (second lien home equity loans and jumbo products),” said Bridges. 

Choosing a mortgage lender will therefore come down to the type of loan best suited for you, rates and fees and customer experience. For instance, if you want to purchase a more expensive home than the conforming loan limits (CLL) established for conventional loans, you’ll want to consider a jumbo mortgage and compare terms from lenders offering this type of loan. 

It’s also important to consider that credit score is just one factor determining mortgage eligibility, so your other qualifications will factor into your decision. 

“Beyond credit scores, lenders will typically assess debt-to-income ratios, property value and payment histories to help determine mortgage eligibility,” said Bridges. 

Before beginning your search for a mortgage lender, consider your needs and qualifications to find the right type of loan for your situation. From there, you can compare interest rates and fees from multiple lenders to pick the right fit. 

Why You Should Trust Us

Benzinga provides expert real estate and personal finance content to more than 25 million readers. Emily Sherman has written about personal finance content for more than seven years for publications including Bankrate and U.S. News & World Report, in addition to Benzinga. To ensure all the information presented in this article is accurate, Emily relies on data sourced directly from mortgage lenders and credit scoring companies and expert insight from an industry professional. 

Methodology 

To compare the best mortgage lenders for a 700 credit score, we analyzed lenders based on criteria including their rates and fees, variety of loan options, application process and customer experience. We prioritize lenders who offer a wide range of products for those with credit scores in all ranges. In addition to lender-provided information about rates, fees and loan options, we sourced customer experience data from TrustPilot and the Better Business Bureau. Read our full methodology here

FAQ

Q

What kind of mortgage can I get with a 700 credit score?

A

A credit score of 700 qualifies borrowers for most types of mortgage. Conventional loans are typically available to those with scores of at least 620, though minimums may vary based on lender. A score of 700 is also typically high enough to qualify for VA and USDA loans. A jumbo loan may require a minimum credit score of 700, though some lenders may accept lower scores.

 

Q

Can I get an FHA loan with a 700 credit score?

A

You should be able to qualify for an FHA loan with a 700 credit score, though it will depend on other qualification factors. The minimum credit score for an FHA loan is typically 580 with a 3.5% down payment, but you’ll also need to meet employment and DTI ratio requirements.

 

Q

What is the average mortgage rate for a 700 credit score?

A

Borrowers with a credit score between 700 and 759 can expect to pay an average interest rate of 7.23%, according to data from MyFICO.

Sources

  • Scott Bridges, chief consumer direct lending production officer at Pennymac
  • Information on credit scores and average interest rates sourced from MyFICO.
Emily Harding

About Emily Harding

Emily Sherman is a journalist with more than seven years of experience writing about personal finance, higher education, and business topics. Her work has been featured in publications including Buy Side from the Wall Street Journal, U.S. News & World Report, USA Today, and Forbes Advisor. When she’s not writing, you can find Emily curled up with a good book or planning her next vacation using points and miles.

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