What credit score do I need for a mortgage in Edmonton?
Quick Answer
Short answer: A-lenders typically want 680+, while insured files can start at 600.
Detailed Explanation
Most big banks and credit-union 'A' lenders set 680 as the minimum beacon score for conventional mortgages. If your down payment is under 20 percent, default-insurance rules allow approval as low as 600—but you may face tighter debt-service ratios.
Borrowers below 600 fall into 'B' or private lending where rates and fees rise sharply.
- Check both Equifax and TransUnion; scores can differ
- Pay revolving balances below 30% to boost scores
- Avoid new credit applications during house hunting
Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.
Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB
Related Questions
- How much is the minimum down payment in Alberta?
- What is the current CMHC insurance premium?
- Can I use RRSP funds for my down payment (Home Buyers' Plan)?
- What are typical closing costs for buyers in Edmonton?
- How long does mortgage pre-approval last?
- Fixed vs. variable rate—what's safer in 2025?
- Average mortgage rate in Edmonton right now?
- Can foreign buyers get mortgages in Alberta?
- Should I use a mortgage broker or go direct to my bank?
- What's the debt-to-income ratio limit in Canada?
- Can I get approved for more than I'm comfortable spending?
- What's a First Home Savings Account (FHSA)?
- Do I need mortgage life insurance?
- What if I'm self-employed—can I still get a mortgage?
- What's the difference between pre-qualification and pre-approval?
- Can I break my mortgage early without penalty?
- What's a HELOC and when should I consider one?
- Should I pay off my mortgage faster or invest the extra money?
- What happens if I miss a mortgage payment?
- How can a REALTOR® help me save real money on financing?
- How can a REALTOR® help me save real money on financing?
- How much is the minimum down payment in Alberta?
- What is the current CMHC insurance premium?
- Can I use RRSP funds for my down payment (Home Buyers' Plan)?
- What are typical closing costs for buyers in Edmonton?
- How long does mortgage pre-approval last?
- Fixed vs. variable rate—what's safer in 2025?
- Average mortgage rate in Edmonton right now?
- Can foreign buyers get mortgages in Alberta?
- Should I use a mortgage broker or go direct to my bank?
- What's the debt-to-income ratio limit in Canada?
- Can I get approved for more than I'm comfortable spending?
- What's a First Home Savings Account (FHSA)?
- Do I need mortgage life insurance?
- What if I'm self-employed—can I still get a mortgage?
- What's the difference between pre-qualification and pre-approval?
- Can I break my mortgage early without penalty?
- What's a HELOC and when should I consider one?
- Should I pay off my mortgage faster or invest the extra money?
- What happens if I miss a mortgage payment?
- How can a REALTOR® help me save real money on financing?
- How can a REALTOR® help me save real money on financing?