British Columbia

Mortgage broker in British Columbia

One application, 65+ lenders. An independent British Columbia mortgage broker shops your file across banks, credit unions, monoline and alternative lenders instead of quoting a single rate sheet.

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What should I know before getting a mortgage in British Columbia?

A mortgage broker in British Columbia submits one application to more than 65 lenders and brings back the best approval, rather than the single rate one bank happens to offer. Home prices across British Columbia run from $760,000 to $1,250,000 in the markets we cover, so the qualifying amount and the closing costs differ sharply city to city.

British Columbia charges property transfer tax rather than a land transfer tax: 1% on the first $200,000, 2% to $2,000,000 and 3% above that. First-time buyers can be fully exempt up to $835,000 on qualifying purchases, with a partial exemption above it.

BC prices push many buyers past the insured lending cap, so uninsured and alternative lender policy, rental-income treatment and 30-year amortizations make more difference here than a headline rate does.

British Columbia closing tax: property transfer tax.
Typical prices across the province: roughly $600,000 in Nanaimo and Kelowna to about $1,250,000 in Vancouver, with Surrey, Burnaby and Richmond generally between $900,000 and $1,150,000.
Licensed and regulated by BCFSA (BC Financial Services Authority).
One application is shopped across 65+ lenders, not one bank's rate sheet.

British Columbia mortgage broker coverage, city by city

Each city page carries its own benchmark price, minimum down payment, estimated monthly payment and closing costs for that market.

Mortgage broker Vancouver$1,250,000 Mortgage broker Surrey$1,050,000 Mortgage broker Burnaby$1,100,000 Mortgage broker Victoria$970,000 Mortgage broker Kelowna$900,000 Mortgage broker Richmond$1,150,000 Mortgage broker Abbotsford$900,000 Mortgage broker Nanaimo$760,000

See today's British Columbia mortgage rates, estimate a payment in the mortgage payment calculator, or check your closing costs in the land transfer tax calculator. Prices shown are rounded market estimates.

Best available rates shown are from 8Twelve's lender panel and are subject to your qualification, lender approval, and change without notice. On approved credit (OAC).

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British Columbia mortgage broker questions

How much is property transfer tax in BC?

On a $1,000,000 BC purchase, property transfer tax is $18,000 — 1% of the first $200,000 plus 2% of the remaining $800,000. Qualifying first-time buyers are exempt up to $835,000 and partially exempt above that.

What mortgage rates can a BC mortgage broker get?

Our best available insured five-year fixed rate for British Columbia is currently around 4.14%, from our lender panel and subject to qualification and approval. Uninsured pricing on higher-value BC purchases usually sits above the insured figure.

Do BC mortgage brokers need to be licensed?

Yes. Mortgage brokers operating in British Columbia are licensed and supervised by BCFSA. 8Twelve Mortgage is licensed in BC and works with borrowers across Metro Vancouver, Vancouver Island and the Interior.

Can I get a mortgage in BC if I am self-employed?

Yes. BC has a high share of self-employed and incorporated borrowers, and several lenders on our panel qualify on business-for-self income using bank statements or notices of assessment rather than salaried pay stubs.

Which BC cities does 8Twelve cover?

We have dedicated pages for Vancouver, Surrey, Burnaby, Victoria, Kelowna, Richmond, Abbotsford and Nanaimo, and we arrange mortgages across the rest of the province.

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