How much can you borrow with a 780 credit score?
You can borrow over $100,000 with a 780 credit score if you get a mortgage or a home equity loan. Keep in mind, the exact amount of money you will get depends on other factors in addition to your credit score, such as your income, your employment status and even the lender.
People with credit scores of 780 typically pay their bills on time; in fact, late payments appear on just 15% of their credit reports. People like you with Very Good credit scores are attractive customers to banks and credit card issuers, who typically offer borrowers like you better-than-average lending terms.
If you're more interested in a personal loan, you could borrow up to $100,000. The best personal loans for a 770 credit score are from LightStream because they offer $5,000 - $100,000 in funding with APRs of 7.49% - 25.99% and repayment periods of 24 - 144 months.
Conventional lenders now require a 780 credit score or higher to qualify for the lowest mortgage interest rates, so anything above 780 is considered an excellent score to buy a house.
| Lender | Loan Amounts | APRs |
|---|---|---|
| SoFi | $5,000 - $100,000 | 8.99% - 29.99% Fixed APR with all discounts |
| Wells Fargo | $3,000 - $100,000 | 7.49% - 23.24% |
| USAA | $1,000 - $100,000 | 7.24% - 17.65% |
| Discover | $2,500 - $40,000 | 7.49% - 24.99% |
This is an above average credit score that puts you in an excellent position to get a great rate on a mortgage or auto loan. It also makes it easier to qualify for personal loans and home equity lines of credit (HELOCs), and to take advantage of the best credit card offers.
| APR range | Minimum credit score requirement | |
|---|---|---|
| Best Egg | 8.99%-35.99% | 600 |
| LightStream | 7.49% to 25.49%* with Autopay | 695 |
| Upgrade | 8.49%-35.97% | 600 |
| SoFi | 8.99%-29.99% | 680 |
Credit. The odds of getting approved for a $35,000 loan increases with a higher credit score. In general, aim for a credit score of 670 or higher when applying for a personal loan. A higher credit score could help you qualify for a lower interest rate.
Know your credit history: Because $60,000 is such a large sum of money and there are fewer lenders that offer such large loans, you'll find it's harder to qualify for. You'll typically need good or excellent credit (a FICO score of 670 or higher) and may need to meet certain income requirements.
How rare is a 780 credit score?
Less than 2% of Americans have a perfect credit score.
"If you're at 760, or 780, you're already getting the best you can get," Jim Droske, president of the credit counseling company Illinois Credit Services, said. "You're already hitting that pinnacle of what lenders care about. Anything above that is just pride."
The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).
The required credit score to buy a $300K house typically ranges from 580 to 720 or higher, depending on the type of mortgage. For an FHA loan, a popular choice among first-time homebuyers for its lower down payment requirement, the minimum credit score is usually around 580.
With FICO, fair or good credit scores fall within the ranges of 580 to 739, and with VantageScore, fair or good ranges between 601 to 780. Many personal loan lenders offer amounts starting around $3,000 to $5,000, but with Upgrade, you can apply for as little as $1,000 (and as much as $50,000).
The best personal loans for excellent credit have low rates and amounts from $2,500 to $100,000.
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.
Requirements for a $20,000 Personal Loan
Requirements vary by lender, but most lenders require borrowers to have a credit score in the good to excellent range — meaning a score of at least 670.
Only about 20% of Americans that have a credit score land above the 780 mark, which is considered the top tier, according to credit reporting agency TransUnion.
A good credit score is essential when getting approved for a $10,000 loan. Borrowers with the highest credit scores, such as those with scores of 740 or more, can get the lowest rates. On the flip side, those with the lowest scores, such as those with scores under 580, are often offered high-interest rates.
800-850: Exceptional credit — Borrowers with a credit score in this range can typically expect to get the best possible rates on their loans. 740-799: Very good credit — Borrowers with this score will generally be seen as appealing to lenders and will usually get a very competitive rate on their loan.
Is 780 a good FICO score?
Within the FICO model, a score between 720 and 780 is categorized as so: Good: 670–739. Very Good: 740–799.
The average FICO credit score in the US is 718, according to the latest FICO data from April 2023. The average VantageScore is 701 as of January 2024. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850.
The monthly payment on a $30,000 loan ranges from $410 to $3,014, depending on the APR and how long the loan lasts. For example, if you take out a $30,000 loan for one year with an APR of 36%, your monthly payment will be $3,014.
Requirements for a $5,000 loan vary by lender. But in general, you should have at least Fair credit, which is a score of 580 or above. Lenders may also look at other factors, such as your income and your debt-to-income ratio (DTI), during the application process.
| Loan Amount | Loan Term (Years) | Estimated Fixed Monthly Payment* |
|---|---|---|
| $25,000 | 5 | $514.05 |
| $30,000 | 3 | $926.18 |
| $30,000 | 5 | $622.61 |
| $35,000 | 3 | $1080.54 |
