700 Credit Score Refinance
A 700 earns strong refinance pricing, including cash-out. The final break sits at 740.
A 700 credit score refinances at strong pricing. Conventional rate-term and cash-out both price well, and your options are wide open. The last meaningful break is at 740, where pricing tops out, so a 700 is close to the best the conventional refinance scale offers, with only a modest gain left above it.
Near the Top of the Scale
At 700 the refinance rate is strong, cash-out is reasonably priced, and refinancing out of FHA insurance is clearly worthwhile if you have equity. This is a comfortable score to refinance from.
The 740 tier is the final step, trimming the rate and any PMI a little further. If 740 is close it can be worth reaching before you lock, especially on a large cash-out; otherwise 700 is already a strong position.
| Refinance Type | Available at a 700 Score? |
|---|---|
| Conventional rate-term | Yes, strong |
| Cash-out | Yes, good pricing |
| Final Break | 740 |
| Above 700 | Modest gains |
What a 700 score changes for Refinance
Credit scores work in bands rather than single points, so the score either side of yours is what decides whether the terms move. Here is what the nearest bands do to a refinance in Florida, and what the same 700 reaches on other programs today.
Drop to 680: Competitive refinance pricing. See 680 with Refinance
Reach 720: Near-best pricing. See 720 with Refinance
If you are close to the band above, it is usually worth asking a lender what it would take to get there before you lock anything in. Paying down a revolving balance is the fastest lever most borrowers have, and it can move a score within one billing cycle.
One thing worth knowing before you read too much into a number: lenders do not use the score you see on a free credit app. They pull all three bureaus and work from the middle score, and on a joint application they use the lower borrower’s middle score. Ask which score a lender is working from before you assume you sit in a particular band.
What else a 700 score reaches
FHA Loan at 700: Works — conventional usually cheaper.
VA Loan at 700: Prime.
USDA Loan at 700: Prime.
Conventional Loan at 700: Prime.
Jumbo Loan at 700: Accessible.
700 Credit Score Refinance — FAQ
Yes. A 700 earns strong pricing on conventional rate-term and cash-out, and it is well-suited to refinancing out of FHA insurance. The only tier above is 740, which adds a modest improvement.
Only if it is close, especially for a large cash-out. The 740 tier trims the rate and PMI a little further, but it is a smaller gain than earlier breaks, so 700 is already a strong place to refinance from.
Verify the details for your own situation against these government and agency sources: HUD FHA loan program and HUD Handbook 4000.1 (FHA rules).
A Refinance With a 700 Score?
Get matched to the right Florida loan for your score · Licensed FL mortgage broker NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.