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What Credit Score Do You Need to Get a Mortgage in Canada?

Not sure what credit score you need to get approved for a mortgage in Canada? In this video, host Mark sits down with Alex Lavender, a certified mortgage broker based in Canada, to break down exactly what credit scores lenders look for, the difference between A lenders and B lenders, how interest rates are affected by your credit score, and the best ways to monitor your credit. Here is what we cover: • The minimum credit score required by traditional (A) lenders vs. alternative (B) lenders and private lenders • What A lenders and B lenders are, with examples and key differences in rates and down payment requirements • How much higher interest rates are with a B lender compared to an A lender • B lender fees and what to expect when working with one • How and when to check your credit score, and which services (Equifax vs. TransUnion) are most relevant for mortgage purposes • Why even borrowers with high credit scores (800+) may end up with a B lender due to income or other file complexities • Why you should always aim for an A lender first ✨ Get A Free & Fast Mortgage Approval With Alex ✨ https://alexlavender.ca/#apply Alex Lavender is a certified mortgage professional Brokerage Licence # 2021-3000150 This information is for educational purposes only and is not financial advice. Everyone's situation is different and you should always consult with certified professionals before making any financial decisions.