If you’re working toward homeownership but your credit history is holding you back, understanding your credit mix is a great place to start. At JAAG Properties, we help individuals who don’t currently qualify for a traditional mortgage — including the self-employed, new Canadians, and those rebuilding credit — find a path to owning a home. Let’s explore how your credit mix impacts your credit score and your ability to qualify for a mortgage in Canada.
What Is a Credit Mix?
A credit mix refers to the different types of credit accounts you have on your credit report. This may include:
- Credit cards
- Auto loans
- Student loans
- Lines of credit
- Mortgages
- Retail accounts or financing plans
Lenders want to see that you can manage different types of credit responsibly. That’s why credit mix typically makes up about 10% of your credit score, according to major credit bureaus like Equifax and TransUnion.
Why Credit Mix is Important
Having different types of credit shows lenders you can handle money in more than one way. For example, using a credit card wisely and making regular car loan payments shows you can manage both short-term and long-term credit.
If your credit history only includes one type of account — say, just a credit card — your score might not be as strong, even if your payments are on time. A healthy mix can help you build a more well-rounded and trustworthy credit profile.
How a Poor Credit Mix Can Impact Mortgage Approval
A limited or poor credit mix can lower your credit score and signal risk to lenders. This can make it harder to get approved for a traditional mortgage, especially if you’re self-employed, have a short credit history, or have had credit challenges in the past.
That’s where JAAG Properties comes in.
A Path to Homeownership with JAAG’s Rent to Home Solution
At JAAG Properties, we offer a Rent to Home Solution designed to support individuals who need time to improve their credit score and financial stability. During your lease period, you’ll have the opportunity to:
- Build your credit
- Diversify your credit mix
- Save for a down payment
- Work toward mortgage approval
We’ve helped hundreds of families across Ontario move into homes they love — even when traditional lenders said no.
Improve Your Credit with JAAG Properties
Your credit mix is one of several key factors that impact your credit score and your ability to qualify for a mortgage. By understanding and improving your credit profile, you’re taking important steps toward homeownership in Ontario.
If you’re ready to explore a new way to buy a home, contact JAAG Properties today and learn more about our Rent to Home program.
