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From good to great: Why clients with 700+ scores are the key to closing more loans
Want to get an edge over competitors and win more business? Offer better rates for clients with mid-scores above 700 by developing a plan to get their high credit scores even higher.
We’ve heard from the industry that there’s been a growing number of people with higher scores in the mortgage application process over the last few months. Our product data confirms this trend, showing an increase from 54% of mortgage credit pulls with 700+ mid-scores in February to 62% in July. These clients likely won’t have issues qualifying overall, but you could show them a clear path to a better deal in just a few minutes with CreditXpert® What-If Simulator™ or CreditXpert® Wayfinder™. Saving your client money makes your offer more attractive, and going that extra mile leads to a happier customer and more referrals.
The best part? It’s more likely for higher-score clients to achieve an increase because it often requires fewer actions than those with moderate credit scores. If you have questions on how our software can help, reach out to us at info@creditxpert.com.
Related Credit Insights
The enterprise-ready SaaS platform helps mortgage lenders attract more leads, make better offers and close more loans.
For mortgage professionals, there's nothing more frustrating than turning away clients who don't qualify. They share promising stories about their credit history, income, and assets, but when the documents arrive, the numbers tell a different tale. The disconnect often stems from consumer-facing credit scores that paint an incomplete picture, failing to align with the strict requirements of mortgage credit scoring.
But what if these clients didn't have to walk away? What if there was a way to transform a "no" into a "not yet" and keep potential homebuyers in your pipeline? Credit optimization emerges as a game-changing solution, offering immediate, actionable steps to improve credit scores and qualify for mortgages.
The traditional approach of asking clients to try again in six months or suggesting they continue renting leaves both parties empty-handed. In contrast, credit optimization provides a structured path forward. An impressive 73% of borrowers can boost their credit score by 20 points or more in just 30 days using targeted optimization strategies. This isn't about overnight miracles—it's about leveraging data-driven insights to make strategic credit improvements.
For loan officers and real estate agents, credit optimization isn't just about helping clients—it's about building a stronger business. Better credit scores lead to lower interest rates, higher loan amounts, and more options for borrowers. For lenders, it means presenting lower-risk applicants to investors. For agents, it means keeping potential buyers in the pipeline instead of losing them to the rental market.
The beauty of credit optimization lies in its versatility. Whether working with someone who barely missed qualifying or a borrower seeking the best possible terms, the process can benefit anyone looking to maximize their borrowing potential while minimizing costs. In an industry where relationships matter, being the professional who helps clients achieve their homeownership dreams—rather than simply turning them away—creates lasting value for everyone involved.