 TITLE: Will a 700 Credit Score Affect How Much I Can Borrow? CONTENT: How Does My Credit Score Affect How Much I Can Borrow in Loans?\n---------------------------------------------------------------\nWith a 700 score, you'll likely be above creditors' minimum score requirements. This means your application probably won't be denied based on your credit score, but it won't necessarily be possible to secure the highest loan amount or the best terms even with a good score.\nFor example, you can qualify for many different types of mortgages with a 700 credit score. But the myFICO mortgage comparison tool shows that the best interest rates go to borrowers who have a score of 760 or higher.\nNot only that, creditors will be considering more than just your credit score when determining how much to lend you and what to charge. Other factors may include:\n*   Your income, your monthly debt obligations and how they compare (debt-to-income ratio, or DTI) before and after you take out a new loan\n*   Your credit history\n*   How you plan to use the loan\n*   The collateral's value (when you're applying for a secured loan)\n*   Your history with the lender\nSometimes, other factors are more important than your score. For example, even with a good score of 700—or a perfect score of 850—you might not get approved for a large loan if you don't have a steady income, have a high DTI or you've defaulted on a previous loan from the company. END