Having a good credit score is an important factor when it comes to financial stability. That's why we generally prefer applicants with a credit score of 600 or higher.
However, we still encourage anyone with a lower credit score to apply for pre-approval and provide any relevant information about their financial situation when asked.
We review each application case by case, so we're happy to hear about any details related to your credit history. If you've had credit defaults in the past, it's worth noting that they'll usually be cleared from your credit history after five years.
This means that even if your credit score is currently lower than we'd like, PublicSquare may still be an opportunity for you to get started in the housing market while you work on improving your credit.
That being said, we also take your future financial health seriously. If we believe that your credit history will continue to impact your eligibility for switching to a mortgage, even after several years, we may have to decline your application for your own best interests.