# What are the exact credit score requirements by lender tier?

> A-lenders (Big 5 banks, credit unions): 680+ Beacon score for prime rates, 720+ for best available rates.

Category: Qualification
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/qualification/what-are-the-exact-credit-score-requirements-by-lender-tier

## Answer
A-lenders (Big 5 banks, credit unions): 680+ Beacon score for prime rates, 720+ for best available rates. B-lenders (alternative lenders like Home Trust, Equitable Bank): 600-679 with compensating factors (strong income, larger down payment). Private lenders: no minimum score but require significant equity (25-35% down) and charge 8-12% rates plus lender fees of 1-3%. CMHC-insured mortgages require minimum 600 from at least one bureau.

## Related guide
- https://ratellow.com/guides/credit-repair-mortgage-readiness

## Sources
- FCAC Consumer Credit Protection — https://www.canada.ca/en/financial-consumer-agency/services/industry/laws-regulations/guideline-existing-mortgage-loans-exceptional-circumstances.html#toc1
- CMHC Credit Score Requirements — https://assets.cmhc-schl.gc.ca/sf/project/cmhc/pdfs/factsheets/new/cmhc-quick-reference.pdf