A credit score is a number given to your credit situation and credit history by one of the credit reporting bureaus/agencies in Canada, it may be referred to as the FICO score. The score generally ranges from 300 on the lowest side to 900 on the highest side. Although most traditional mortgages require at least a credit score of greater than 600, to get the best rates and terms it typically needs to be above 700 or 720 depending on the lender. Private lenders will typically look at any or no credit score and adjust the rate based upon the risk associated with a low or no score.