By Lauren Ward

Not only is 705 a good credit score, it’s also in the middle of the FICO® scoring model’s “good” range. With this credit score, you should be able to qualify for most types of financing, although you may not be eligible for the lowest interest rates possible.

Learn about a 705 credit score and what to expect when applying for different types of financing.

What Does a 705 Credit Score Mean?

A 705 credit score is considered “good,” according to FICO, which is the credit scoring model used by the majority of American lenders. It’s also just slightly lower than the average American’s score of 717.

While you’ll likely qualify for most financing opportunities with a 705, improving your score could come with benefits like higher loan amounts and lower interest rates. Here is each level of FICO’s score ranges:

•   Excellent: 800+

•   Very Good: 740 to 799

•   Good: 670 to 739

•   Fair: 580 to 669

•   Poor: 300 to 579

As you can see, a 35-point increase could bump your score from good to very good. Use a free credit monitoring service to keep tabs on your score and get advice on next steps for improving your score.

What Can You Get with a 705 Credit Score?

With a 705 credit score, you’re in good shape to qualify for most types of financing, although you may not get the very best interest rate possible.

Remember that in addition to your credit score, lenders also look at factors like your employment history and debt-to-income ratio. It doesn’t entirely matter if a 705 credit score is good or very good; there are other variables at play as well.

Can I Get a Credit Card with a 705 Credit Score?

Yes, you’re likely to qualify for a credit card when your credit score is 705 or higher. Since it’s in the middle of the good category, you may not get the best rate possible, but it should still be competitive. On top of that, you could qualify for credit cards with perks and rewards.

In addition to finding the best rate, look for promotional deals and ongoing benefits when comparing your credit card offers:

•   Signup bonus: A credit card signup bonus lets you earn a statement credit after opening a new card and spending a minimum amount within a certain period of time.

•   Cash-back rewards: Some card accounts accrue cash-back or rewards points based on the amount you charge to the card, oftentimes as a percentage of your purchases.

•   Travel rewards: Travel rewards credit cards may offer perks like airline miles, hotel points, and travel insurance.

Also keep an eye out for fees, which are more common when your card comes with extra perks.

Can I Get an Auto Loan with a 705 Credit Score?

With a 705 credit score, you should be able to qualify for a car loan, and your rate should be fairly competitive as well. At this credit level, the average new car loan rate is 6.87% and the average used car loan rate is 9.36%, according to 2024 data from Experian. That’s not too far off from the average rates offered to borrowers with a higher score, which are 5.25% and 7.13%, respectively.

One factor to consider when thinking about an auto loan is how much car you can afford. Your income and current debt load impact the size of a loan you can take out. Lenders look at all of your monthly debt payments and compare it to your gross income, which is known as your debt-to-income ratio. If it’s too high, you’ll have to borrow a smaller amount for your car.

Making a larger down payment can help you get the car you want while still staying in your lender-approved budget.

Can I Get a Mortgage with a 705 Credit Score?

Yes, most lenders require a 620 credit score to qualify for most home loans, although there are a few exceptions for borrowers with a lower score. But with a 705, you should be able to qualify for the most common mortgages, such as:

•   Conventional loan: The minimum credit score is typically a 620, so you have room to qualify for better rates with a 705.

•   FHA loan: The minimum credit score varies; with a 705, you can qualify for a lower down payment of just 3.5%.

•   VA loan: Designed for military borrowers, a VA loan has no official credit score minimum, but most lenders want to see at least a 620.

•   USDA loan: There’s also no hard minimum for a USDA loan, which can be used to purchase a home in a rural area. But like a VA loan, most lenders require a 620 or higher.

If you’re shopping for a more expensive home, a 705 is also right on the line to qualify for a jumbo loan. This home loan is designed for mortgages above the conforming loan limit. In 2025, most areas in the U.S. have a maximum loan amount of $806,500. A home loan over that limit requires a jumbo loan and a minimum credit score of 700.

No matter what type of home loan you choose, it’s a good idea to shop around for a mortgage lender to find the best total offer that works for your financing goals.

Can I Get a Personal Loan with a 705 Credit Score?

Not only should you qualify for personal loans with a 705 credit score, you should also be able to get a prime loan that’s unsecured. That means you don’t have to use any collateral to qualify. Just like the other types of financing discussed, the amount you can borrow depends on your income and existing debt loads. Use a personal loan calculator to estimate monthly payments using different loan amounts.

A credit card consolidation loan is another option that may come with competitive fixed rates. It can help you get out of debt faster and potentially save money on interest, especially if your credit card has a high APR attached to it.

The Takeaway

Tracking your credit score is a smart idea when you’re applying for a personal loan or other type of financing. A 705 is a good score regardless of what you want to borrow. Maximize your credit limits and loan amounts by keeping your debt balances in check and staying on top of your monthly due dates to keep your payment history strong.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

By Jamie Cattanach

While a 655 credit score isn’t technically in the “good” category, it’s pretty darn close. A “good” FICO® credit score falls between 670 and 739, which means you’re just 15 points away from being in that category. Still, you may find your credit options more limited, and they may come with higher rates and less-flexible terms.

Below, we’ll dive into what it means to have a credit score of 655, what types of loans you might qualify for with that score, and what you can do to inch yours up into the good category.

What Does a 655 Credit Score Mean?

Although you have several different credit scores, the most commonly used one is called a FICO Score. These three-digit numbers are calculated based on your past financial behaviors and circumstances, and are meant to indicate a benchmark of riskiness to prospective lenders.

People with larger debt balances, a history of late payments, and a shorter history of borrowing are all subject to relatively lower scores. On the flip side, those with higher scores tend to have a history of making on-time payments, carry lower total balances, avoid applying for multiple loans at once, and maintain a mix of different types of credit.

So why does your credit score matter? Generally speaking, the higher your score, the more likely you are to qualify for a loan or line of credit — and receive favorable rates and terms, which can help you save money in the long run.

Though credit scores update every 45 days or so, it’s a good idea to know what yours is and how it’s categorized. Here’s a look at how FICO Scores are ranked. As you’ll see, a credit score of 655 is considered “fair.”

•   Poor: 300-579

•   Fair: 580-669

•   Good: 670-739

•   Very Good: 740-799

•   Excellent: 800-850

What Else Can You Get with a 655 Credit Score?

A credit score of 655 is fair, which could mean higher interest rates and fewer approvals for credit cards and loans. But with some work, you can build up your credit profile and move your score into the “good” category. Making consistent on-time payments, paying down what you owe, and avoiding taking out new loans are all strategies to try.

But what exactly can you get with a 655 credit score today? Let’s take a look.

Can I Get a Credit Card with a 655 Credit Score?

It’s possible to get a credit card with a fair credit score. Of course, a successful application depends on more than just your score. Credit card issuers will also be interested in your employment history, total income, and existing debts, among other factors.

If you’re having trouble getting approved for the card you want, you might consider a secured credit card. These cards are offered to borrowers with poor or nonexistent credit history to help them build their credit profile or repair a dinged score.

Here’s how they work: You put down a refundable cash deposit, which typically serves as your credit limit. Then, you use your card as usual, ideally building your credit history with on-time payments and a low balance. Eventually, you may be able to graduate to an unsecured credit card (and get your deposit back).

Can I Get an Auto Loan with a 655 Credit Score?

Since car loans are secured by collateral — the car itself — banks can generally afford to offer the loans to slightly riskier borrowers. After all, if the loan goes into default, they can simply repossess the car.

Still, those with better credit scores tend to get lower interest rates. This is especially important for an auto loan, which requires the borrower to pay interest on an asset that loses value over time.

You’ll likely be able to find a car dealership or lender that is willing to work with you with a 655 credit score, assuming the rest of your financial situation is in fairly good shape. Still, you may end up facing an APR of 9.73% on a new car, or 14.07% on a used vehicle, according to 2024 Experian data. Compare that to average rates offered to people with the best credit scores: 5.08% on a new car, and 7.4% on a used car.

Can I Get a Mortgage with a 655 Credit Score?

A credit score of 655 shouldn’t stop you from getting a mortgage. However, when it comes to such a big financial undertaking, your credit score isn’t all that matters.

While the minimum credit score for conventional home loans is set at 620 by Fannie Mae, some lenders may qualify homebuyers with lower scores. For instance, with a loan backed by the Federal Housing Administration, you might qualify with a score as low as 500 if you can afford a 10% down payment.

During the underwriting process, your lender will likely look at a variety of other factors, including your employment history, cash flow, and your debt-to-income ratio (DTI).

If you can qualify, but your monthly housing payments will be a big stretch with your other commitments, and you don’t have a substantial emergency fund, it’s worth thinking twice. Owning a home has plenty of hidden costs in the form of repairs and maintenance. In some cases, renting really can make more financial sense.

Can I Get a Personal Loan with a 655 Credit Score?

Personal loans allow you to use the money you borrow for just about anything, whether it’s paying off a big medical bill or consolidating credit card debt so you can make a single monthly payment rather than several.

While you may qualify for a loan with a 655 credit score, it’s a good idea to take a close look at the interest rate you’re offered and run it through a personal loan calculator. You may be surprised by how much interest adds up over time.

The Takeaway

A credit score of 655 is technically in the “fair” category, but it’s just 15 points shy of being officially considered “good.” With that score, you could face fewer approvals for loans and credit cards, and the ones you’re approved for may come with higher interest rates.

Building your credit score can help position you for more favorable terms. While making on-time payments is one of the most effective actions you can take, lowering your overall revolving debt and diversifying your credit mix can also help.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

Best Places to Live in Washington State

Washington is a vast state of thriving cities and stunning natural beauty. Fortunately, some areas are relatively affordable and even have a lower cost of living than the American average.

Whether you’re looking to start a career, find a place to retire, or experience a new way of living, here are the best places to live in Washington.

💡 Quick Tip: Buying a home shouldn’t be aggravating. Online mortgage loan forms can make applying quick and simple.

Best Affordable Places to Live in Washington State

Amazon and Microsoft are both headquartered in the Seattle area, and are the main drivers of high real estate values. But head south or east, and properties become much more affordable.

Wherever you’re hoping to put down roots, make sure you check out first-time homebuyer programs in Washington to see how you can save money. And if you’re a newbie homebuyer, use a first-time homebuyer guide to learn more about the process before you start shopping.

1. Yakima

2. Kennewick

3. Spokane

Recommended: How to Qualify for a Mortgage: 9 Tips

Best Places to Live in Washington State for Families

Washington is widely recognized as one of the best states to raise a family. It earns high scores for quality schools, health and safety, socioeconomics, and family fun. (Also, UFO sightings!) But be prepared for relatively pricey child care costs.

1. Walla Walla

2. Kennewick

3. Wenatchee

💡 Quick Tip: Lowering your monthly payments with a mortgage refinance from SoFi can help you find money to pay down other debt, build your rainy-day fund, or put more into your 401(k).

Best Places to Live in Washington State for Young Adults

If you’re into college basketball, live music, or craft beer, grab your umbrella and your rescue dog and head for Washington state. For young adults looking to get established, find a partner, or start a career, big cities tend to be the best places to mix and mingle — both personally and professionally. Of course, big cities tend to come with big prices, and that’s definitely true here. Still, some cities are more affordable than others.

1. Spokane

2. Tacoma

3. Renton

Recommended: Different Types of Home Mortgages

Best Places to Live in Washington State for Retirees

With temperate winters, ample waterfronts, and no state income tax — which means no taxes on Social Security payments — Washington state can be an ideal place to retire. Here are the best options.

1. Hoquiam

2. Union Gap

3. Kennewick

Best Places to Live in Washington State Near Nature

In Washington State, you don’t have to choose between beaches, mountains, and forests: You can have it all. Here are some cities that are best situated for getting out in nature, no matter what kind of nature it is you desire.

1. Olympia

2. Port Angeles

3. Port Townsend

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The Takeaway

While Washington state does have a higher cost of living than many other states in the U.S., it’s still home to many affordable cities — and even its most expensive cities are less costly than some other major west coast burghs. Yakima is our top affordable city overall, with Walla Walla, Spokane, Hoquiam, and Olympia winning in other categories.

Ready to start home shopping? Visit the SoFi Home Loan Help Center to learn more about mortgage options.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

View your rate

Browse Other States

Best Affordable Places to Live in the U.S.

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FAQ

Where is the most affordable place to live in Washington?

Per data gathered by SoFi, Hoquiam and Yakima are just about tied for the most affordable places to live in Washington state, with cost-of-living indexes of 92% and 93% of the national average, respectively. (This is compared to Seattle’s cost-of-living index of 147%.)

What is the cost of living in Washington State 2023?

Washington is the state with the 10th highest cost of living per MERIC data from the first quarter of 2025. Housing costs in the Evergreen State have come down since their peak a couple years ago.

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