What credit score do I need for a BC mortgage in 2026?

Direct answer

The federal floor for INSURED mortgages (CMHC, Sagen, Canada Guaranty) is a minimum credit score of 680 for at least one borrower on the application — a CMHC change effective July 2020 and unchanged in 2026. Below 680 the lender may still approve UNINSURED mortgages (20%+ down) but expect higher rates, more rate-quote shopping, and tighter conditions. Big-Six bank "best rate" tier typically requires a credit score of 720+ on every borrower; the gap between a 680 score and a 760 score on a $700K mortgage can be 0.20-0.50% in rate, equating to ~$70-180/month on a 25-year amortization. The OSFI B-20 stress test applies to ALL federally regulated mortgages regardless of credit score: borrowers must qualify at MAX(contract rate + 2%, 5.25%). A high credit score does not exempt you from the stress test; it only opens better contract pricing. Three practical levers to raise score before applying: (1) pay down credit-card balances to below 30% of limit; (2) avoid new credit applications in the 6 months preceding mortgage application; (3) ensure no missed payments in the 24 months prior. For thin-file buyers (newcomers, recent students), alternative documentation programs from monoline lenders sometimes substitute for traditional Equifax/TransUnion scores — discuss with a mortgage broker before applying.