Do you aspire to be a homeowner? A large down payment helps you afford your dream home, but it’s not the only important factor. In my upcoming book, Burn Your Mortgage, I reveal the four mortgage qualification factors. One of those factors is your credit score.

Your credit score is that all-important number the lenders care so much about. You credit score is based on your credit history. This number helps lenders decide whether to approve your mortgage. The higher your credit score, the more favorable the mortgage terms will be. Credit scores typically fall somewhere between 300 and 900. Shoot for a credit score of 680 or higher.

Maintaining a good credit score is important. Not only does your credit score help you qualify for a mortgage, it can help you obtain the best mortgage rate, saving thousands of dollars in interest over the life of your mortgage. If your credit score isn’t the greatest, you could pay a higher mortgage rate or your application could be denied.

While you could get a free copy of your credit report once a year from the credit rating agencies like Equifax and TransUnion, your credit score remained a mystery unless you were willing to pay for it – until now. Borrowell has partnered with Equifax to offer you free access to your credit score. There are no strings attached – you don’t have to apply for credit and checking won’t hurt your credit score.

Your credit score is such a vital piece of information, yet most Canadians don’t know theirs. In a recent survey by BMO, 56 percent of Canadians said they have never checked their credit score, while only 14 percent check theirs at least once a year. Offering Canadians their credit score for free is a step in the right direction and should be applauded.

Checking your credit score is simple and secure. In less than five minutes you can have your no-obligation credit score. Simply register for an account, answer a few questions about your credit history to verify your identity and voila, you  have your credit score – it doesn’t get any easier than that! I used Borrowell’s website and found out I had a credit score of 837. My credit score is considered excellent since it falls between 741 and 900.

Don’t worry if your credit score isn’t what you had hoped it would be. There are easy ways you can improve it. Borrowell’s website shares information on the factors that affect your credit score and along with specific steps you can take to improve your credit worthiness. Your credit score will be updated for free every three months to track your progress and make sure your credit score’s going in the right direction.

If you’re in the market for a home this year, find out your credit score ahead of time and take the steps necessary to improve it. Try out Borrowell’s free no-obligation service and find out your credit score today.

Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians, available now on Amazon and at Chapters, Indigo and major bookstores, and as an Audiobook on Amazon, Audible and iTunes.