Mortgage is a loan for borrowers with strong credit scores, stable incomes, and low debt loads. These buyers get the best rates and terms from top-tier lenders. Learn more about our Mortgage.
Most Mortgage lenders want a score of 720 or higher. A score between 680 and 719 can still qualify, but may not get the very best rate. Learn about the credit score you need for a mortgage and how your credit score affects approval.
Lenders want to see steady, verifiable income. Salaried workers need recent pay stubs and T4s. Self-employed borrowers need two years of tax returns. See: steps to secure a mortgage as a self-employed worker.
Mortgage borrowers get access to the lowest fixed rates available. Your rate is locked in for your full term, so payments don’t change. See our Fixed Mortgage Rates and read how fixed mortgage rates are determined.
Both options are open to you. Fixed gives you certainty. Variable has historically been cheaper but carries more risk. Read: fixed rate vs adjustable rate and how mortgage rates are determined.
Yes. With strong documents in hand, pre-approval can happen in 24 to 48 hours. Learn about mortgage pre-approval and how your credit score affects mortgage approval.
Even strong borrowers can make costly errors at renewal or by not shopping lenders. Learn about the mortgage mistakes to avoid and what homeowners miss during mortgage renewals.
B lending is for buyers who don’t qualify with a major bank. This includes people with bruised credit, gaps in employment, or non-traditional income. Get your B Lending mortgage now.
Most B lenders work with scores between 500 and 679. Below 500, private lending may be the only option. Learn about the credit score requirement for a mortgage and tips for improving your credit score.
Yes, B lender rates are usually 1–2% higher than A lender rates. But they give you a path to homeownership when banks say no. Learn why Coquitlam buyers consider B lenders and understand your alternative mortgage options.
Yes. Most borrowers use B lending as a short-term bridge while they rebuild their credit or stabilize their income. Learn about the renewal without staying with the same lender and switch mortgage lenders before renewal.
Usually yes. Most B lenders want at least 20% down payment, which makes the mortgage uninsured. Learn about insured vs uninsured mortgages and understand down payment options.
Brokers have direct relationships with B lenders that most buyers can’t access on their own. A broker can match you to the right lender fast. Learn about the difference between a mortgage broker vs bank and why buyers use residential brokers over banks.
Yes, in some markets, the combination of high prices and strict lending rules makes it tough. Learn about why it is harder for first-time buyers in Kamloops to get a mortgage now and why first-time buyers should explore all loan paths.
Yes, in some cases. Borrowed down payments are allowed under certain programs and lenders. Learn about our Borrow Down Payment services and read how buyers afford borrowed down payments.
Borrowing your down payment means you carry more debt from day one. Lenders will factor the extra loan into your qualifying amount. Read: understanding first-time buyer pitfalls and top mortgage mistakes to avoid.
BC has several programs to help buyers cover the down payment, including gifted funds, RRSP withdrawals, and the FHSA. Learn about the down payment options and how to get a mortgage without a down payment.
Yes. The Home Buyers’ Plan lets you withdraw up to $35,000 from your RRSP tax-free for a first home purchase. Read: first-time homebuyers’ guide and what first-time buyers should know about rate locks.
Yes. Lenders check where your down payment comes from. Gifted, borrowed, or saved funds are all treated differently. Always read mortgage terms before signing, and for first-time buyers and pre-approvals.
Beyond the down payment, you also need closing costs of roughly 1.5–4% of the purchase price. Learn about how much you need to buy a home and check your mortgage affordability.
A commercial mortgage is a loan used to buy or refinance a property that is used for business purposes. Learn about how to get a commercial mortgage for your business and apply for a commercial mortgage.
Yes, commercial rates are typically higher because the risk is greater for lenders. Terms are also shorter. Learn about why commercial mortgage rates are higher than residential.
You’ll need business financials, two to three years of tax returns, property details, and a business plan in some cases. Apply for business financing in BC and learn about the Alternative Income When Applying.
Yes. We help clients secure commercial financing across BC, including Surrey and Vancouver. Apply for a Commercial Mortgage in Surrey or Vancouver.
A commercial mortgage is secured by real property. A business loan is usually unsecured or tied to business assets. Apply for financing for a business in BC.
Yes. Self-employed borrowers can qualify, though lenders will look closely at business income and financials. Learn how to secure a mortgage as a self-employed worker, and learn how to use alternative income when applying.
Construction financing for commercial builds works differently from residential funds, which are released in stages as work is completed. Learn about the financing draw schedules for new builds.
Construction loans release funds in stages called draws as each phase of the build is completed. Apply for construction financing and learn about the drawing schedules for new builds.
A draw schedule sets out when money is released during the build. Missing a draw or going over budget can stall your project.
Some lenders allow a rate hold during the build period. This protects you if rates rise before you move in. Learn how fixed mortgage rates are determined.
Most lenders require at least 20% down for a construction mortgage. Some programs may allow less. Explore down payment options and how much you need to buy a home.
Yes, it helps significantly. Not all brokers work with construction lenders. A specialist can match you to lenders who understand build-to-suit projects. Learn about the tips for first-time buyers working with brokers.
A regular mortgage gives you the full loan at closing. A construction mortgage releases funds in stages. Interest is only charged on what has been drawn. Apply for Construction Financing now.
Yes. We help clients with financing for their new builds across BC. Learn how to start building in Vancouver with the right financing.
Discharging a mortgage means officially removing the lender’s claim on your property after the loan is fully paid off. Learn how to discharge a mortgage and apply to discharge your mortgage.
It usually takes 2 to 6 weeks after your final payment. A lawyer or notary handles the paperwork and files it with the Land Title Office.
Yes. There are legal fees and sometimes a discharge fee from your lender. Costs vary by lender and province. Learn about how to avoid mortgage penalties in British Columbia.
It depends on your mortgage type. Open mortgages can be paid off at any time. Closed mortgages may come with a prepayment penalty. Learn open vs closed mortgage and guide to refinancing without penalties.
Once discharged, the lender’s charge is removed from your title. You own the property outright. This is registered at BC’s Land Title Office.
Yes. In BC, a lawyer or notary must file the discharge with the Land Title Office. Learn about the mortgage terms before signing.
We help business owners access commercial mortgages, equipment loans, and business lines of credit. Apply for business financing.
Yes. You can use business income, but they look at the declared income on your tax returns. Learn how to secure a mortgage as a self-employed worker.
B lenders are more flexible with income documentation, making them a good fit for business owners whose declared income is lower. Learn how to reduce mortgage stress as a self-employed worker.
Yes. Corporations can get commercial mortgages. The lender will look at the company’s financials and the personal credit of the principals. Read: How to get a commercial mortgage for your business.
A business or personal line of credit is counted as debt when lenders calculate your borrowing power. Read: does a line of credit affect mortgage approval and HELOC vs mortgage.
A readvanceable mortgage lets you re-borrow the equity you’ve paid down, like a built-in line of credit. It can be useful for business cash flow. Learn about a readvanceable mortgage and read HELOC vs mortgage.
A fixed rate stays the same for your entire mortgage term. Your payment amount doesn’t change, no matter what happens to the market. Apply for Fixed Mortgage Rates.
Fixed rates are tied to Government of Canada bond yields, not the Bank of Canada policy rate. Learn how fixed mortgage rates are determined.
It depends on your risk comfort and how long you plan to stay in the home. Fixed gives you certainty; variable has historically been cheaper. Learn about fixed rate vs adjustable rate.
Yes. Most lenders allow you to convert a variable rate to a fixed rate during your term. Learn hw to lock in a variable-rate mortgage.
At renewal, your rate is reset based on current market rates. This is the best time to shop with lenders. Read our mortgage renewal negotiation checklist and questions to ask before renewing your mortgage.
Insured mortgages (less than 20% down) often get slightly better fixed rates because the lender’s risk is lower. Read: insured vs uninsured mortgage.
In Canada, mortgage interest is compounded semi-annually, not monthly. This is different from most other countries. Learn about the mortgage interest rates: annual or monthly.
Yes. It’s very common. You’ll need your T1 Generals and Notices of Assessment for the past two years. Learn about the steps to secure a mortgage as a self-employed worker and apply for a Self-Employed Mortgage.
You’ll typically need two years of T1 Generals, Notices of Assessment, and business registration. Some lenders also accept bank statements.
Lenders use your declared income from tax returns, which is often lower than what you actually earn. Many business owners write off expenses that reduce taxable income.
Yes. Some B lenders and private lenders offer bank statement programs for self-employed buyers. Understanding Options with private lenders and alternative mortgage options.
It can, especially if you need a B lender or a stated income program. Working with a broker helps you get the best rate available for your situation.
Most lenders want to see at least two years of self-employment history. Some are flexible if you were previously salaried in the same field. Learn how to secure a mortgage as a self-employed worker.
If your business is the source of income, that counts as employment to lenders. The key is showing consistent earnings. Learn how to get a mortgage without a job in British Columbia.
A private lender is an individual or company that lends money secured against property. They are more flexible than banks but charge higher rates. Learn about your mortgage options with private lenders.
A private lender is an individual or company that lends money secured against property. They are more flexible than banks but charge higher rates. Learn about your mortgage options with private lenders.
Yes. Private rates are typically 2–5% higher than bank rates. The trade-off is speed and flexibility. Understanding options with private lenders.
Most private loans are short-term, usually 1 to 2 years. The goal is to move to a B or A lender when you’re ready. Learn about the tips for using private lenders and navigate renewal without staying with the same lender.
Yes. Private lenders can fund a refinance quickly, even when banks won’t. Learn how to secure a broker-facilitated refinance in White Rock and tips on navigating refinance rules in Campbell River.
Private lenders care more about the property value and equity than your credit score. That’s what makes them accessible to more people.
A readvanceable mortgage combines a regular mortgage with a home equity line of credit (HELOC). As you pay down the mortgage, your available credit line grows. Apply for a Readvanceable Mortgage.
A HELOC is a standalone credit line. A readvanceable mortgage bundles both products together, so the credit limit increases automatically as you pay down the mortgage. Learn about HELOC vs mortgage and how to use home equity without selling.
Yes. Many homeowners use the credit portion to fund renovations without refinancing. Read about the tips for using mortgage equity to fund spring renovations.
Yes. Investors often use equity access to fund down payments on additional properties. Learn about the steps to refinance without disrupting future investments.
The main risk is re-borrowing equity and growing your debt instead of building net worth. Discipline is key. Learn about the top mortgage mistakes to avoid.
You generally need at least 20% equity in your home and a strong credit profile.
Refinancing means replacing your current mortgage with a new one, often at a better rate, or to access equity. Use our mortgage refinance calculator and learn how to refinance your mortgage.
Sometimes. It depends on your equity, credit, and the lender. Explore are refinance rates higher thMortgage rates.
You can refinance penalty-free at renewal. Mid-term refinancing usually comes with a prepayment penalty. Learn how to refinance without penalties.
Spring is when the housing market picks up. Refinancing early locks in your rate and gives you more buying power. Read: why homeowners refinance before the spring market heats up and refinancing your mortgage before winter ends.
Most lenders require you to keep at least 20% equity in your home after refinancing. You can access up to 80% of your home’s value. Learn how to use home equity without selling.
Yes. Debt consolidation through refinancing is one of the most common reasons homeowners refinance. It can lower your monthly payments significantly. Learn about the steps to refinance without disrupting future investments.
Expect a new application, appraisal, legal fees, and possibly a penalty on your existing mortgage. Learn what to expect when seeking a refinance.
An uninsured mortgage is one where the down payment is 20% or more, so no mortgage default insurance is required. Explore our Uninsured Mortgage Solutions and learn more about insured vs uninsured mortgages.
You save the insurance premium (up to 4% of the loan), but uninsured mortgages can sometimes carry slightly higher rates.
Yes. All mortgages in Canada are subject to the stress test, insured or not. Learn about your mortgage affordability and how much you need to buy a home.
Yes. Investment and rental properties are typically uninsured since lenders require 20% down or more.
A lender, B lenders, and some private lenders all offer uninsured products. A broker can compare them all for you. Learn how to choose the right mortgage lender.
Yes. Refinancing rules for uninsured mortgages are similar to insured ones. You can access up to 80% of your home’s value. Learn how to refinance without penalties.
Yes. Vacant land mortgages are available, but they come with stricter rules and higher down payment requirements.
Most lenders require 35% to 50% down for vacant land. The exact amount depends on the land’s location and zoning.
Yes. Lenders view land as higher risk since there is no home on it as security. Rates are typically higher.
Yes. Private lenders are often more flexible for land purchases than banks. Learn your mortgage options with private lenders and how to use private lenders.
Yes. Many buyers use a vacant land mortgage as the first step, then apply for construction financing to build.
You’ll need proof of income, credit history, a survey of the land, and zoning information. A broker will guide you through the full list. Read mortgage terms before signing.
