What Credit Score Do You Need to Buy a House in Ontario in 2026?

Minimum Credit Score Requirements by Lender Type

CMHC-insured mortgages (less than 20% down): minimum 600. Major banks (A lenders): typically 680+ for best rates, 620+ for approval. Monoline lenders (broker channel): 620–650 minimum. B lenders (alternative): 550+ with compensating factors. Private lenders: no minimum but very high rates. For a duplex purchase with rental income qualification, most lenders want 650+ to include full rental income in your application.

How Duplexes Change the Credit Score Equation

Here's the counterintuitive reality: a lower credit score buyer purchasing a duplex can sometimes qualify for a higher loan amount than the same buyer purchasing a single-family home — because the rental income from the second unit adds to qualifying income. A 650 score buyer with $90,000 income may qualify for a $550,000 single-family mortgage, but qualify for a $680,000 duplex mortgage because the lender includes 80% of the estimated second-unit rent in their income calculation.

The 6-Month Credit Improvement Plan

Months 1–2: Pull your credit report from Equifax and TransUnion (free at annualcreditreport.ca). Dispute any errors — even small errors can suppress your score by 20–50 points. Month 3: Pay down revolving credit balances (credit cards) to below 30% utilization. This typically produces the fastest score improvement — often 20–40 points within 60 days. Months 4–5: Ensure all payments are on time — one missed payment can cost 50–100 points. Month 6: Avoid applying for new credit (each hard inquiry reduces your score 5–10 points). Recheck your score and apply.

Working With a Mortgage Broker, Not a Bank

When your credit score is below 700, go to a mortgage broker rather than directly to a bank. Brokers have access to 30–50 lenders including A lenders, B lenders, and credit unions. They can match your specific credit profile to the lender most likely to approve you at the best rate — without multiple hard inquiries on your file. A single broker application typically counts as one inquiry regardless of how many lenders they approach.