Good Credit Score = Mortgage
FICO Score Chart
FICO Score < 619 = Bad Credit Score
FICO Score 620 - 650 = Poor Credit Score
FICO Score 651 - 700 = Average Credit Score
FICO Score 700 + = Good Credit Score
Is 700 A Good Credit Score?
Many people ask What is a good credit score? Is 700 A good credit score? The answer is YES, 700 is a good credit score in fact credit scores over 650 are considered good credit scores. Credit scores are called FICO scores. FICO scores are used to determine your level of credit based on a number of factors. It is obvious that having a good credit score like 700 is going to make mortgages and other loans easier to get. Having a 700 FICO number is also going to make your mortgage cheaper in that good credit scores like having a 700 credit score are going to reduce the mortgage interest rate and fees you pay.
Credit scores or FICO numbers between 620 and 650 indicate basic good credit but may cause your lender to take a closer look at your credit and finances. A credit score below 620 and you are in the sub prime lending category. Having a credit score below 620 does note mean you cannot obtain a mortgage it just will be more expensive and less smooth.