In Canada, your credit score (beacon score) can range from 300- 900. So what’s good credit? Good credit in terms of securing a large loan like a mortgage starts at 680, great credit is in the mid to high 700’s and amazing credit is 800 and above. Fair credit is around the 540 mark and anything under is a credit that requires immediate attention to get back on track. Now, this is not to say you can’t obtain a mortgage if your credit is lower than 680, it just means you may be placed with an alternative lender until the time comes when you improve your credit score enough to qualify with a traditional lender. Have anymore questions about credit and how to maintain a healthy credit score feel free to get in touch with us, we’re here to help!

Author Debora Seehuber