What Credit Score Do You Need to Get a Mortgage in Canada
Compare lender types, score ranges, and how to qualify even with a low score.
When you're preparing to buy a home, your credit score can be the key to unlocking low interest rates or the reason you get declined. But how high does your credit score really need to be to qualify for a mortgage in Canada?
In this guide, we'll break it down by lender type, score range, and what to do if your score is not quite there yet.
What Is a Good Credit Score for a Mortgage?
Most lenders in Canada use your credit score to assess your ability to repay a mortgage. Your score typically ranges between 300 to 900.
Types of Lenders and Their Score Requirements
- A-Lenders (Banks and Credit Unions)
Minimum Score: 680 (some may go as low as 620)
Best For: Employed buyers with steady income and low debt
Down Payment: As little as 5 percent (if insured)
Interest Rate: Best available rates. - B-Lenders (Alternative Lenders)
Minimum Score: 550 to 679
Best For: Self-employed, new credit users, or past delinquencies
Down Payment: Usually 20 percent or more
Interest Rate: Higher than banks
3. Private Lenders
Minimum Score: No minimum required
Best For: Urgent or high-risk financing needs
Down Payment: 25 to 35 percent or more
Interest Rate: Higher, with additional fees
Other Factors Lenders Consider
Credit score is just one part of your mortgage application. Lenders also look at:
- Income stability and job history
- Debt-to-income ratio
- Down payment size
- Past bankruptcies or consumer proposals
- Credit utilization on current accounts
What If Your Score Is Too Low
If your score is under 680, you are not out of the game. At CreditOneSolutionz, we help clients:
Dispute inaccurate items on their credit report
Remove late payments and delinquencies
Reduce utilization and build credit strategically
Prepare for pre-approval with confidence
How to Prepare for a Mortgage
Here is your 3-step roadmap:
Check your credit report from Equifax and TransUnion
Work with a credit consultant to improve your score
Gather your mortgage documents: income proof, ID, credit report
Ready to Buy a Home
Let CreditOneSolutionz help you get mortgage ready. Whether you are buying your first home or applying after credit struggles, our personalized plan will help you get approved faster with better rates.
Book your 99 Dollar Credit Review today and take the first step toward homeownership.
Learn more about our credit repair services or contact us to get started.
Frequently Asked Questions
Can I get a mortgage in Canada with a 600 credit score?
Yes, but you may need to work with a B-lender or private lender and provide a higher down payment.
Does checking my credit score hurt it?
No. Checking your own score is considered a soft inquiry and does not affect your credit rating.
How fast can I improve my credit score for a mortgage?
Some improvements can happen in 30 to 90 days with focused effort on utilization and dispute resolution.