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The Beacon score is Equifax Canada’s credit scoring model, producing a number generally between 300 and 900 from the data in a borrower’s credit report; it is one of the most commonly referenced credit scores in Canadian mortgage underwriting.
In everyday broker and lender conversation, “Beacon score” is often used interchangeably with “credit score,” but Beacon specifically refers to the Equifax model. TransUnion Canada uses its own separate scoring model, so a borrower’s Beacon score and their TransUnion score can be different numbers even though both fall within a similar 300-to-900-style range.
Lenders and brokers pull the Beacon score as part of ordering a credit report, and it’s used the same way any credit score is used in underwriting — as one factor in deciding which lender tier and rate a file qualifies for, alongside income, debt load, and down payment.
Equifax-specific: Beacon is Equifax Canada’s branded scoring model, generally producing a result in the 300-to-900 range.
Widely used by brokers: many Canadian mortgage brokers and lenders default to pulling Equifax/Beacon reports, though some also use TransUnion.
Same underwriting role as any score: it feeds into lender tiering and pricing decisions rather than being a standalone approval threshold.
Privacy-protected: like the underlying credit report, Beacon score data is handled under PIPEDA obligations by brokers and lenders.
Definitions reflect Canadian federal and provincial rules as of the “Updated” date above. Not advice for any specific file.
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