You can have good income and a 700 credit score (which is about average) and still not qualify for a mortgage.
Your credit score is 700. Based on your credit profile data, this is a numerical depiction of your creditworthiness.
700 Credit Score Canada This includes the mortgage on your home, ready for your car, credit cards and so on.
Don and I ordered our reports with scores from Equifax, instead of Canada’s other main credit reporting agency, TransUnion, because Don’s teachers’ union offers a discount for Equifax.
However, a 700 credit score will still get you in the door with most issuers. You just might not get their lowest APRs
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However, a 700 credit score will still get you in the door with most issuers. You just might not get their lowest APRs, most generous credit lines or best rewards right off the bat. But is 700 good compared to the average score?
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Unfortunately it is not as easy as saying that a 700 credit score is good or a 700 hundred credit score is bad. The truth is that it is neither here nor there when it stands on its own. When a lender or creditor is pulling a person’s credit to determine if they are worthy of lending money to they will usually pull a...
Another good chunk of your credit score is determined by your credit utilization, or how much credit you use (balances) compared to how much credit is available to you (limits) – the lower, the better.