Trusted mortgage services
Your Abbotsford mortgage broker
From a first condo near Mill Lake to an acreage in Bradner, we compare over 50 lenders to find the mortgage that fits.
- 5-yr fixed
- 4.89%
- 5-yr variable
- 3.70%
Updated Oct 27 · on approved credit · Compare to bank rates
Mortgages for Abbotsford homes, from townhouses to acreages
Abbotsford is the largest city in the Fraser Valley, and its housing is just as varied: condos and townhouses around Clearbrook and the historic downtown, newer family homes on the slopes of Auguston and Eagle Mountain, and farms and acreages across Bradner, Matsqui and Sumas Prairie. Each of those is financed a little differently, and the lender with the best rate on a townhouse is often not the one that will lend on ten acres.
We shop your application across banks, credit unions and specialist lenders, explain the trade-offs in plain language, and stay with you from pre-approval to the keys. Whether you work at the hospital, study or teach at UFV, commute down Highway 1 or run your own business, we'll find a lender whose rules suit your situation.
What Abbotsford buyers ask us about
Acreages and farm properties
Much of rural Abbotsford is in the Agricultural Land Reserve. Most lenders finance the house and a limited amount of land at standard terms, so larger parcels, outbuildings or farm income often call for a lender that specializes in rural properties.
Flood questions on Sumas Prairie
Home insurers ask about flood risk and history on Sumas Prairie properties, and your lender needs proof of insurance before it funds. Get an insurance quote early, before your financing conditions come off.
Suites that help you qualify
Many Abbotsford homes have a basement suite. Lenders can count part of the rent from a legal suite toward your income, which can raise the price you qualify for. How much counts depends on the lender and the insurer.
How it works
Your Abbotsford mortgage in 3 steps
We do the shopping, you get the keys
Schedule a consultation- Step 1: Easily apply online in 5 minutesWith some simple questions, we build your profile and match you with mortgages that fit it. No cost to you for most mortgages, and no obligation.
- Step 2: We compare 50+ lenders to find the right mortgage for youWe compare rates and features from 50+ lenders and give you transparent options. Your options side by side: rate, penalties and flexibility.
- Step 3: Approved, with human supportFrom approval to closing, you have an advisor who gives you clear, transparent advice about your mortgage. Nick stays with you from approval to keys.
Frequently asked questions
You have questions — we have answers!
Abbotsford mortgage questions
Why use a broker instead of my bank?
Your bank can only offer its own products. We compare options from over 50 lenders, including credit unions and lenders that specialize in rural and self-employed borrowers. For most mortgages our service is free to you, because the lender pays us when your mortgage funds.
Can I buy an acreage with less than 20% down?
Sometimes. Insurers and lenders will finance some rural homes with a smaller down payment, usually valuing the house and a limited parcel of land, as long as there is year-round road access and the well and septic system pass inspection. Larger farms and hobby farms usually need a bigger down payment.
What is the minimum down payment on an Abbotsford home?
For a home you will live in, it is 5% of the first $500,000 and 10% of the portion between $500,000 and $1.5 million. Homes priced at $1.5 million or more need at least 20% down. Our down payment planner shows the numbers for your price.
Does flood risk on Sumas Prairie affect my mortgage?
It can, through your home insurance. Your lender needs proof of insurance before it funds, and insurers ask Sumas Prairie buyers about flood risk and the property's history. Some may charge more for flood coverage or limit it. Get an insurance quote while your offer is still subject to financing, so there are no surprises close to completion. We can tell you what your lender needs, but your insurer is the one to ask about flood coverage.
Do I qualify for the first-time buyer property transfer tax exemption?
You may if you are a Canadian citizen or permanent resident, have never owned a home you lived in as your principal residence anywhere in the world, and will live in this one. You also need to have lived in BC for 12 months in a row before buying, or filed two BC income tax returns in the last six years. The exemption covers the tax on the first $500,000 for homes up to $835,000, worth up to $8,000, with a partial exemption up to $860,000.
Today's rates
Our rates vs the banks'
We shop 50+ lenders, so the rate you're offered isn't limited to one bank's rate sheet. Updated Oct 27.
Apply for your mortgage in minutes
Everyone's rate is different. What's yours?
Our job is to find you a competitive rate and terms that fit. Your rate qualification depends on certain factors, such as credit score and home equity, as per Canadian regulations. Get your details fast — there's no cost and no obligation.
- Current variable mortgage rate
- 3.70%
- Current prime rate
- 4.45%
| Term | Bank posted | Our rates | Action |
|---|---|---|---|
| 6 Months | 5.54% | 5.09% | Get this rate: 6 Months |
| 1 year fixed | 5.49% | 4.79% | Get this rate: 1 year fixed |
| 2 year fixed | 5.39% | 4.59% | Get this rate: 2 year fixed |
| 3 year fixed | 6.05% | 4.69% | Get this rate: 3 year fixed |
| 4 year fixed | 5.99% | 4.84% | Get this rate: 4 year fixed |
| 5 year fixed | 6.19% | 4.89% | Get this rate: 5 year fixed |
| 7 year fixed | 6.40% | 5.09% | Get this rate: 7 year fixed |
| 10 year fixed | 6.80% | 5.09% | Get this rate: 10 year fixed |
| 5 year variable | No bank rate | 3.70% | Get this rate: 5 year variable |
Bank posted rates are the big banks' posted rates published by the Bank of Canada (1, 3 and 5 years) and by Dominion Lending Centres (other terms). Some conditions may apply. Rates may vary from province to province. Rates subject to change without notice. Rates change often and depend on your down payment, credit and property; on approved credit (O.A.C.). E.&O.E.
Contact us
Have a question about your mortgage?
Contact info
Call, email or send us a message. We negotiate with over 50 lenders to find the right mortgage for you.
- Our location525 W 8th Ave #800, Vancouver, BC V5Z 1C6
- Phone number778-838-8005
- Email addressinfo@coastalblue.ca