Your credit score is one of the most important factors in getting approved for a mortgage. Learn what you need and how to improve it.
Best rates available, multiple lender options, highest approval chances
Competitive rates, good approval odds, many lender choices
Standard rates, approval possible with larger down payment
Higher rates, limited lenders, may need alternative solutions
Alternative lenders, higher rates, work on improvement first
Good News: Even with less-than-perfect credit, we have solutions. We work with 50+ lenders including alternative options.
Payment history is 35% of your score. Set up automatic payments to never miss a due date.
Keep balances below 30% of your credit limits. Lower is better - aim for under 10%.
Length of credit history matters. Keep old cards active even if you don't use them often.
Multiple credit applications hurt your score. Shop for mortgages within a 45-day window.
Check your credit report for mistakes. Incorrect information can be disputed and removed.
A mix of credit cards, loans, and installments shows responsible credit management.
Timeline: Most credit improvements take 3-6 months to reflect. Major improvements may take 12-24 months of responsible credit use.
Access your credit reports and scores for free from these trusted Canadian sources:
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