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How are mortgage rates calculated? What would the ideal credit score be in order to secure a decent rate?

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How are mortgage rates calculated? What would the ideal credit score be in order to secure a decent rate?  
 
 I need some help and advice about securing a mortgage.
 
How are the rates calculated and what would be considered the ideal credit score? I want to have something to work towards so I can one day be approved and own my own home.
 
Thank you. 

Answers

By Canadalend
Hi there and thank you for your inquiry.
 

Anything over 700 is a great credit score, but it is always important to remember that there are many factors to take into consideration when applying for a mortgage, they look at your credit score yes, but also your income, any debts you may have, if you are purchasing a home the size of your down payment matters, all those factors are considered.

 

Going to Candalend.com will ease this stress for you and they will analyze all these factors and help get the best possible rate for you!

 

 

Feel free to also contact our mortgage specialists via phone:
 
Level 5 (XP: 1900)
4 days ago
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