Credit score. Do you have one?

As we like to say in the business, no score, is as good as having a bad score. Banks rely on your credit profile as part of the adjudication process when underwriting your loan application. If your profile is too thin, you won’t generate a credit score.

The numerical credit score is between 300 and 900. You should be aiming for 900, but in over 20 years, the best I’ve ever seen is 850. The score is a quick reference for lenders, and plays a big part in the decision to approve or decline your application, especially when they’re busy. It can also affect what rate you get with some lenders. It’s determined by a number of variables contained in the balance of your credit report. Most conservative “prime” lenders will decline your application automatically with a score under 620.

Make sure you have done everything possible to improve your score BEFORE you apply for a mortgage. To learn more about doing that, visit the page on here –

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