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Frequently Asked · Financing
What credit score do I need to buy a house in BC?
The mortgage-approval floor for major lender categories
As of
General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
There's no single BC minimum, but Canadian mortgage lenders group credit scores into tiers. Here's the practical floor for each mortgage category.
Practical minimum: 680 for A-lenders. Below 680 you'll need a co-applicant or move to a B-lender.
Conventional mortgages (≥ 20% down) — A-lenders
Practical minimum: 660. Some A-lenders will go to 620 with strong income + employment history.
B-lender mortgages (Home Trust, Equitable Bank, etc.)
Practical floor: 550. Higher interest rate (typically prime + 1.5–3%). Common for self-employed borrowers or 600–680 credit scores.
Private mortgages
No credit-score floor — private lenders underwrite equity/location instead. Interest 8%–15%. Typically used for short-term bridge or when institutional financing falls through.
How to improve fast
Pay every credit-card balance below 30% of the limit. Never miss a payment. Don't apply for new credit within 6 months of mortgage application. Speak with a licensed mortgage broker.
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