Vancouver Mortgage Rates Information

How Much Can I Afford?

A great way to find out how much you can afford, is through using our custom Vancouver mortgage rates calculator.

Knowing you budget is one of the first steps in the home buying process. Our easy to use mortgage calculator is a great way to determine a price range and your monthly payments. Please keep in mind, there are many factors that will ultimately determine your budget for a home purchase that are not included in the calculation below, like your outstanding debt, other monthly expenses, and job type.

Talk to a Mortgage Broker

To get a more precise number, you should look to a mortgage broker to get ‘pre-approved‘ for a mortgage amount. This process will give you a clear sense of what you can afford and will provide the benefit of ‘locking in’ an attractive mortgage rate for a period of 90-120 days. To get the process started, contact our WeLoveEastVan Mortgage Experts:

Eitan Pinsky

Eitan Pinsky from Origin Mortgages, who is filled with energy and knowledge, has a unique approach to educating you about your mortgage options and will ensure that you get a mortgage that works for you.

View Eitan’s Mortgage Site, or contact him directly at [email protected] or 778-990-8950.

Justin Blacklock

Justin Blacklock from Averbach Mortgages, who we have worked with personally and professionally for over 10 years. His mortgage and banking knowledge, flexibility of mortgage programs and exclusive rates are second to none.

You can reach Justin directly at [email protected] or 604-736-1855.

Calculate your Mortgage

House Price:$
Down Payment:$
Annual Interest Rate:%
Payment Interval:

House Price:{{ mortgage.housePrice | currency }}
Down Payment:{{ mortgage.downPayment | currency }}
Mortgage Amount:{{ (mortgage.housePrice - mortgage.downPayment) | currency }}
{{ mortgage.interval.label }} Payment:{{ mortgage.intervalPayment | currency }}
Total # of Payments:{{ mortgage.totalPayments }}
Total Paid:{{ mortgage.totalPaid | currency }}
Total Interest Paid:{{ (mortgage.totalPaid - mortgage.housePrice) | currency }}

Getting a Mortgage FAQ:

What is a mortgage? Most people assume that a mortgage is a loan. In reality, a mortgage something that YOU grant the bank, in this case an interest in the property you are buying, in return for a loan.

What are the different types of mortgages?

(1) The banks define a conventional mortgage as any purchase that has 20% or more of the appraised value in downpayment funds. In this case, no mortgage insurance is required.

(2) For purchases with less than 20% down (high-ratio mortgage), you will be required to have the mortgage insured with CMHC or Genworth. The cost of these premiums can be as much as 4.15% of the total loan amount, but allows you to put as little as 5% down. The additional costs are added to your mortgage loan, unlike taxes that cannot be added to your mortgage. Most people fall into this category.

What’s the difference between amortization period and mortgage term?

The mortgage term is the length of the mortgage contract, while the amortization period is the length of time in which the interest on your monthly payments is calculated. The mortgage term is typically 2, 5, or even 10 years, but your the amortization period is typically 25-30 years. With a longer amortization period, you will lower the monthly payment, but increase your cost of borrowing (due to the total amount of time that you end up borrowing the money). Determining how long of a term to go with, may depend on whether you think interest rates will go down or up, or your ability to endure payment fluctuations. Longer terms provide more stability, but may also include costly pre-payment penalties, if you need to get out of the mortgage, or need to port the mortgage to a more expensive property. At the end of the term, you are required to repay the full-unpaid balance or re-finance the mortgage for the remaining length of time.

Should I go with a variable or fixed rate?

There is no clear answer to this question, as it will depend on a variety of factors including your risk tolerance and current market conditions. Fixed rate mortgages will keep your monthly payment consistent throughout the term (2, 5, or unto 10 years) of the mortgage, while a variable rate mortgage will have payments that fluctuate with changes in interest rates. In the past and over the longterm, variable rates have outperformed fixed rates, but the stability of fixed rates are more commonly chosen. In recent years, we have also seen record low interest rates, so many see interest rates going nowhere  but up.

Am I able to use my RRSP’s for a downpayment?

Yes, but there are some restrictions. The Federal Government allows first time home buyers to use up to $25,000 from RRSP funds ($50,000/couple) toward their down payment. To qualify, the following conditions must be met:

[x] close

Login for Full MLS Access





Budget: -

Square ft.: -

# of Bedrooms:

# of Bathrooms:


Key criteria:

Terms of Use

The term Virtual Office Website ("VOW") refers to a Participant's (REALTORS®) Internet website, or a feature of a Participant's Internet website, through which the Participant provides real estate brokerage services to Registrants (clients and prospects) with whom the Participant has first established a relationship where the Registrant has the opportunity to search for MLS® data, subject to the Participant's oversight, supervision and accountability. By agreeing to these "Terms of Use" you:

  1. acknowledge and understand that the Terms of Use do not create an agency relationship and do not impose a financial obligation on the Registrant or create any representation agreement between the Registrant and the Participant;
  2. understand that all data obtained from the VOW is intended only for your personal, non-commercial use;
  3. do have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered through the VOW
  4. agree not to copy, redistribute or retransmit any of the data or information provided;
  5. acknowledge the Board/Association ownership of and the validity of the copyright in the MLS® database.
  6. agree that all information provided may be provided to the relevant Board and may be used to administer and operate the VOW and to investigate any breach of security of the data or the MLS® rules
  7. that a "mouse click" is sufficient acknowledgement and agreement to the terms
  8. must supply a user name and a password, the combination of which must be different from those of all other Registrants on the VOW, before being permitted to search and view information from the MLS® database via the VOW.
  9. must provide a valid email address. The Registrant may be permitted to access the VOW only after the Participant has verified that the email address provided is valid the Registrant's agreement to the VOW's Terms of Use is confirmed.
  10. understand the Participant must at all times maintain a record of the name, telephone number and email address supplied by the Registrant, and the username and current password of each Registrant, such records to be kept for not less than 180 days after the expiration of the validity of the Registrant's password. If the Board/Association has reason to believe that a Participant's VOW has caused or permitted a breach in the security of the data or a violation of MLS® rules related to use by one or more Registrants, the Participant shall, upon request, provide to the Board/Association a copy of the record of the name, email address, telephone number, username, current password, and audit trail, if required, of any Registrant identified by the Board/Association to be suspected of involvement in the violation.
  11. Understand that information on this site is deemed to be valid but is not guaranteed. It is the responsibility of the registrants to confirm all information on their own. Broker may not have reviewed or approved listing enhancements. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  12. Understand any agreement entered into at any time between the Participant and Registrant imposing a financial obligation on the Registrant or creating agency representation of the Registrant by the Participant must be established separately from the Terms of Use, must be prominently labelled and may not be accepted solely by mouse click
  13. have received, read and understand the brochure published by the British Columbia Real Estate Association entitled Working With a REALTOR®

Having agreed to the terms and conditions of use, I would like to have access to this VOW information.

 Terms and Conditions I agree to the Terms and Conditions

[x] close

Login for VOW Access

Remember me

Don't have an account? Register now!