How Much You Can Borrow with a 730 Credit Score (2024)

FAQs

How Much You Can Borrow with a 730 Credit Score? ›

You can borrow $50,000 - $100,000+ with a 730 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

As mentioned, an 730 credit score falls within the range that is typically considered to be good credit. Lenders will often consider a score in this range for loan approval.

The best credit card for a 730 credit score is the Chase Sapphire Preferred card because it offers 1 - 5 points per $1 spent on purchases though it has a $95 annual fee. Cardholders also get an initial bonus of 60,000 points for spending $4,000 within the first 3 months.

You can borrow $50,000 - $100,000+ with a 730 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

Requirements for a $3,000 Personal Loan

However, most set a minimum. Discover, for example, requires a minimum credit score of 660, while some others require a minimum of 700. Most lenders consider your whole financial situation.

The credit score required and other eligibility factors for buying a car vary by lender and loan terms. Still, you typically need a good credit score of 661 or higher to qualify for an auto loan. About 69% of retail vehicle financing is for borrowers with credit scores of 661 or higher, according to Experian.

What kind of house can I get with a 730 credit score? ›

Conventional Loan

Since you have a 730 credit score, the ideal type of mortgage we would recommend is the traditional kind of home loan. Conventional loans are a good idea, especially if you're looking to buy an investment home, vacation house, or rental property.

The required credit score to buy a $300K house typically ranges from 580 to 720 or higher, depending on the type of loan. For an FHA loan, the minimum credit score is usually around 580.

Those with excellent credit can expect to receive an average APR of 3.6% for a new car. Having a 730 credit score means getting on average a 4.4% interest rate for a 60-month loan. Car buyers with credit scores over 720 could expect to be offered rates around 3.19% on average.

The amount of time it takes to go from a 700 to 800 credit score could be as little as a few months to several years. While your financial habits and credit history will play a role in how long it takes, there are some factors that have specific timelines.

670-739: Good. 740-799: Very good. 800-850: Excellent.

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 typical minimum credit score needed to qualify for a personal loan is from 560 to 660, according to lenders surveyed by NerdWallet, but credit score requirements for personal loans vary across lenders and some may require a higher score.

Requirements for a $20,000 Personal Loan

This means they'll want to see your credit score, income level and DTI ratio. 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.

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).