What is a good score to get mortgage in Canada?

What Your Credit Score Means for Mortgage Approval

Your credit score plays a big role in how lenders assess your mortgage application — but it's not the only factor. Here's a breakdown of what different score ranges typically mean:

🔴 Below 600

Default Response: Not Approved (Case-by-Case Review)

If your score is below 600, approval is not impossible, but it’s going to be much more difficult. Your file will be reviewed in detail, and approval depends heavily on the strength of your overall case — including income stability, down payment, debt levels, and the lender’s risk appetite.

Approval will vary depending on:

• The underwriter’s discretion

• The financial institution’s policies

• Additional documentation you can provide

• Overall risk and compensating factors

Expect extra work, more questions, and a longer process — but with the right support, it’s still possible. To manage your expectations, don't expect Prime lenders to touch your file. You may have to work with private lenders, sub-prime lenders (Alternative lenders) to get a mortgage.

🟡 600 – 679

Default Response: Approved, But With Conditions

This range is considered borderline. You're likely to get an approval, but lenders may need additional documents or assurances to feel confident moving forward. They’re on the fence — and the more prepared you are, the better your chances.

Common lender conditions include:

• Proof of stable income or employment

• Bank statements or rent history

• A higher down payment

• Lower debt-to-income ratio

You're in the game — you just have to strengthen your case. Some Prime lenders (A lenders) and Near-Prime lenders (Alt A lenders) may touch this file, depending on the overall strength of the file.

🟢 680 and Above

Default Response: Approved

A score of 680+ signals to lenders that you have a proven track record of managing credit well. While other factors still matter (income, debts, property type, etc.), this is typically considered a strong application.

Benefits of a 680+ score:

• Easier approvals

• Better interest rates

• Fewer conditions or paperwork

• Faster processing time

Prime Lenders (A lenders) and Near-Prime lenders will offer you the best rates, considering other aspects of the file are in order.

Bottom Line:

Your credit score tells part of your story — but not the whole thing.

At Pathfinder Mortgages, we look at the full picture, not just the number.