Trusted mortgage services
Your Coquitlam mortgage broker
Burke Mountain new builds, Westwood Plateau family homes and condos along the Evergreen Line. We compare over 50 lenders for you.
- 5-yr fixed
- 4.89%
- 5-yr variable
- 3.70%
Updated Oct 25 · on approved credit · Compare to bank rates
Coquitlam mortgages for every stage
Coquitlam has changed quickly since the Evergreen Extension of the Millennium Line opened. Highrise and midrise condos now cluster around Burquitlam, Lougheed and Coquitlam City Centre, Burke Mountain keeps adding new detached homes and townhomes, and established neighbourhoods like Westwood Plateau, Ranch Park and Maillardville offer family homes with yards.
Buyers here range from first-time condo owners to families moving up to a new build. We compare banks, credit unions and specialist lenders, and help you plan presale completions, bridge financing and refinances as well as straightforward purchases.
What Coquitlam buyers ask us about
New builds on Burke Mountain
Buying a newly built home may qualify you for a 30-year insured amortization even if you have owned before. If you are building yourself, a construction mortgage releases funds in stages.
Moving up
Selling a condo to buy a house? You may be able to port your mortgage and blend in new money rather than paying a penalty to break it. Our port, blend or break planner compares the options.
Condos near transit
Lenders include half of your strata fee in your qualifying ratios and review the strata's depreciation report and reserves. Newer buildings usually pass easily; older ones with big repairs ahead need a closer look.
How it works
Your Coquitlam 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!
Coquitlam mortgage questions
Can I take my mortgage with me when I move?
Many mortgages are portable, meaning you can move the balance, rate and remaining term to a new home and avoid a prepayment penalty. Rules and time limits differ by lender, and you need to qualify for any extra money you borrow.
How is a mortgage penalty calculated?
On a variable-rate mortgage it is often three months' interest. On a fixed-rate mortgage it is usually the greater of three months' interest or the interest rate differential, which can be much larger. Your contract sets the formula, and our renewal penalty tracker estimates it.
What credit score do I need?
For an insured mortgage, at least one borrower generally needs a score of 600 or higher, and many lenders look for more. If your score is lower, credit unions and alternative lenders may still approve you, and we can help you plan to improve it.
What is a blend-and-extend?
It is a way to change your mortgage without breaking it. Your lender blends your current rate with today's rate, often while extending your term or adding money, so you don't pay a prepayment penalty up front, though the cost can be built into the blended rate. If you move up and port your mortgage, a similar blend can cover the extra you borrow. Not every lender offers it, so we compare it with breaking the mortgage. Our port, blend or break planner runs the numbers.
What is a special levy, and who pays it?
A special levy is a one-time charge that strata owners vote on to pay for repairs or projects the contingency reserve fund doesn't cover. In older buildings it can run to thousands of dollars per unit. The strata's Form B information certificate and the meeting minutes show levies that are approved or being discussed, and you and the seller can agree in your contract who pays an approved levy. Lenders ask about large levies too, so check before your subjects come off.
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 25.
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