What Credit Score Do You Need to Buy a Home in Kamloops?

If you’re dreaming of buying your first home in Kamloops, your credit score is one of the most important numbers to know. But what score do you actually need, and how can you set yourself up for success? Here’s a friendly guide to understanding credit and getting mortgage-ready!

Why Credit Scores Matter

Lenders use your credit score to help decide whether to approve your mortgage application and what interest rate to offer. A higher score means more options and better rates, saving you money over the life of your loan.

What’s the Magic Number?

In Kamloops—and across Canada—most lenders look for a minimum credit score of 600 to 650 for standard mortgage approval. A score of 680 or higher opens the door to the best rates and a wider choice of lenders. Some alternative lenders may consider lower scores, but you’ll likely face higher interest rates and stricter terms.

How to Check (and Improve) Your Credit Score

• Request a free credit report from Equifax or TransUnion to see where you stand.
• Pay bills on time and reduce outstanding debt—these are the biggest factors affecting your score.
• Avoid applying for too much new credit at once.
• Keep old credit accounts open to show a longer history.

Other Tips for First-Time Buyers

Even if your score isn’t perfect, a strong income, low debt, and a solid down payment can help your chances. Talk to a mortgage broker who understands the Kamloops market—they’ll help you find the best path forward.

Your credit score is just one step on the journey to homeownership. With a little planning and good advice, you’ll be unlocking the door to your Kamloops home in no time!