One of the first questions we hear from buyers and homeowners is, “What credit score do I need to qualify for a mortgage?” The answer isn’t always straightforward, because credit requirements can vary by lender, mortgage type, and your overall financial picture.
Understanding how credit scores are used can help you prepare and avoid unnecessary stress during the mortgage application process.
How Lenders Use Credit Scores
Lenders use your credit score as an indicator of how you’ve managed credit in the past. In general, a score of 680 or higher is considered strong and typically provides access to the most competitive mortgage rates. That said, many buyers can still qualify with lower scores depending on income, debt levels, and down payment.
Can You Get a Mortgage With a Lower Credit Score?
Yes, in many cases. We work with lenders that consider credit scores in the low to mid-600s, particularly for insured mortgages or borrowers with stable income. While the rate or options may differ, homeownership is still possible with the right strategy.
Why Your Overall Profile Matters
Credit score is only one piece of the puzzle. Lenders also review your employment history, income consistency, debt ratios, and savings. We look at your full financial picture to match you with lenders who best fit your situation — not just your score.
How We Help Improve Mortgage Readiness
If your credit score isn’t quite where it needs to be, we can help you understand what changes may improve it. Small adjustments, such as paying down balances or correcting reporting errors, can make a meaningful difference over time.
If you’re unsure where your credit stands, contact us, we’re here to help. Call Rampone-Marsh Mortgages at 250-801-8834 or visit us at 1290 St Paul St #316, Kelowna, BC for personalized mortgage guidance.
