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Your credit score isn’t the only thing a mortgage lender looks at, but it’s one of the first, and it can affect both approval and pricing. The upside is that a credit score isn’t a mystery. Once you know what goes into it and how to check your file for free, you can prepare months ahead instead of getting surprised in a lender’s office. This guide covers the basics for buyers in the United States and Canada.

Educational only. We are not a lender or credit counselor, and nothing here is financial or legal advice. Lenders use different score models and their own criteria. Ask your lender which scores and thresholds apply to you.

What a credit score actually is

A credit score is a three-digit summary of the information in your credit report. Higher scores generally signal lower risk to lenders.

United States: FICO says its base scores range from 300 to 850.
Canada: Equifax Canada explains that Canadian scores are typically between 300 and 900.

You don’t have just one score. Equifax Canada notes that the two Canadian bureaus may hold slightly different information, since not every creditor reports to both, and that lenders use many different scoring models. FICO also publishes different score versions for different types of lenders. So small differences between scores are normal.

The five things a FICO Score looks at

FICO groups the data from your credit report into five categories. It says these weights apply to the general population and can differ from person to person:

Factor	Weight	What it means in practice
Payment history	35%	Paying on time, every time
Amounts owed	30%	How much of your available credit you’re using
Length of credit history	15%	How long your accounts have been open
New credit	10%	Recently opened accounts and applications
Credit mix	10%	Having different types of credit

Two takeaways: on-time payments and lower balances do most of the work. You can’t fake either. They build up over months, which is why it pays to start early.

Step 1: Check your reports for free

U.S.: The FTC says AnnualCreditReport.com is the only website authorized to fill orders for the free reports you’re entitled to by law, and that you can check your report from each of the three nationwide bureaus there once a week for free.
Canada: The Financial Consumer Agency of Canada (FCAC) explains how to get your free credit report from Equifax and TransUnion, online, by mail or by phone.

Look for accounts you don’t recognize, late payments you believe are wrong, and incorrect personal details. The FTC says to dispute mistakes with the credit bureau and with the business that supplied the information. Disputes can take time, so do this well before you apply. The CFPB notes that checking your own credit does not affect your scores.

Step 2: Strengthen what you can in the months before applying

General habits that line up with the factors above:

Set up autopay or reminders so no payment slips.
Pay down revolving balances where you can, rather than moving them around.
Avoid opening new credit you don’t need just before a mortgage application.
Keep older accounts in good standing. They add to the length of your history.

There’s no guaranteed “score boost”, so be wary of any service that promises a quick fix.

Step 3: Know that lenders look beyond the score

Your score sits alongside your income, job stability, savings and existing debts. The CFPB explains your debt-to-income ratio (DTI): all your monthly debt payments divided by your gross monthly income. It’s one way lenders measure your ability to manage payments, and different loan products and lenders have different DTI limits. A strong score with a high DTI can still be a problem, so add up your own numbers before a lender does.

Step 4: Rate-shop without fear (US)

Many buyers worry that comparing lenders will hurt their credit. The CFPB says that within a 45-day window, multiple credit checks from mortgage lenders are recorded as a single inquiry. Shopping around is usually worth it even if a check falls outside that window. Gather your quotes within a focused period, then compare them. Our first-time buyer guide explains preapproval.

In Canada, rules and practices can differ, so ask each lender or broker how their credit check will be recorded before you agree to it.

A simple 90-day prep plan

Day 1: Pull your reports (US: all three bureaus; Canada: Equifax and TransUnion).
Week 1–4: Dispute any errors. Set up autopay.
Month 1–3: Bring card balances down. Avoid new credit applications.
Month 3: Recheck your reports, calculate your DTI, then start talking to lenders.

Keep learning

For score ranges, factors and free-check links in one place, see our credit score guide. For loan types and Canadian specifics like the stress test, visit buying basics.

Last checked: 5 October 2026. Score models and lender criteria change. Confirm with your lender and the official sources above.

Tag: debt-to-income

Understanding Credit Scores Before You Apply for a Mortgage