Minimum Credit Score to Buy a House in BC | 2026 Mortgage Guide

If you’re planning to purchase a home in British Columbia, understanding the minimum credit score to buy a house in BC is essential. Lenders rely heavily on your credit score to determine eligibility, interest rates, and the type of mortgage you can qualify for.

Minimum Credit Score to Buy a House in BC

The minimum credit score to buy a house in BC typically falls between 600 and 680, depending on the type of mortgage and the lender’s requirements.

• Insured mortgages (less than 20% down): Usually require a minimum credit score of 600+, although many lenders prefer scores around 620–650.
• Uninsured mortgages (20%+ down): Most lenders want a score of 680+ for stronger approval chances and the best interest rates.

These benchmarks are widely accepted in the mortgage industry, but each lender may apply additional criteria.

For reference, CMHC outlines minimum requirements for insured mortgages here:
Canada Mortgage and Housing Corporation (CMHC).

Why the Required Credit Score Varies

1. Mortgage Insurance Rules

Buyers making a down payment under 20% must obtain mortgage insurance from CMHC, Sagen, or Canada Guaranty. These insurers generally require a minimum 600 credit score, but lenders often apply stricter internal policies.

2. Type of Lender

• A-lenders (major banks): Prefer scores of 680+ for the best terms.
• B-lenders: More flexible, often accepting scores between 550–650, but with higher interest rates.
• Private lenders: Focus more on equity and down payment than credit score but charge significantly higher rates.

3. Your Overall Financial Profile

Lenders also consider employment stability, debt ratios, and available savings. A strong income profile can sometimes offset a slightly lower credit score.

Examples of Credit Score Scenarios

• First-time buyer with 5% down: A credit score of 620–650 typically qualifies with an insured lender.
• Buyer with 20% down: A score of 680+ offers better rates and smoother approvals.
• Credit score under 600: Approval may still be possible through alternative or private lenders.

FAQs

Is 600 enough to buy a house in BC?
Yes — 600 may qualify for insured mortgages, depending on the lender.

What score gets the best mortgage rates?
Borrowers with scores of 700+ often receive the lowest rates.

Can I buy a home with poor credit?
Yes, through B-lenders or private lenders, though costs will be higher.

Do all lenders follow the same rules?
No — every lender uses its own criteria and risk assessments.

Takeaway

The minimum credit score to buy a house in BC generally ranges from 600 to 680, depending on the lender, down payment, and mortgage type. Higher credit scores offer stronger approval odds and better interest rates.

For more on mortgage rules in Canada, visit the official Government of Canada housing portal:
Government of Canada – Mortgage Basics.

Internal link example (replace with your own URL):
Your BC Home Buying Guide