When it comes to buying a home, many people focus on saving for a down payment or finding the right property. But there’s another piece of the puzzle that plays a huge role in your mortgage options: your credit score.

Your credit score is essentially a snapshot of your financial reliability. Lenders use it to decide not only whether to approve your application, but also what kind of interest rate you’ll receive. A higher score signals lower risk for the lender, which often translates into lower rates and better terms for you. Over the life of a mortgage, this can add up to thousands of dollars in savings.

The good news? Your credit score isn’t set in stone. Making payments on time, keeping balances low compared to your limits, and avoiding unnecessary new credit can all help improve your score. Even small changes can make a noticeable difference over time.

If you’re planning to buy a home, your credit score should be part of your strategy. Understanding where you stand—and how to strengthen it—can put you in the best position when it’s time to apply for a mortgage.

– Michele McGarvey Team, Dominion Lending Centres