Trusted mortgage services
Your Delta mortgage broker
North Delta, Ladner and Tsawwassen each have their own market. We compare over 50 lenders to find the mortgage that fits yours.
- 5-yr fixed
- 4.89%
- 5-yr variable
- 3.70%
Updated Oct 25 · on approved credit · Compare to bank rates
One city, three communities
Delta is really three communities. North Delta's established family neighbourhoods sit next to Surrey near the Alex Fraser Bridge. Ladner is a riverside village surrounded by farmland, and Tsawwassen, between Boundary Bay and the ferry terminal, mixes beach-town homes with newer developments.
We help Delta buyers and homeowners with purchases, renewals, refinances and equity take-outs, and we know which lenders work comfortably with the less common properties here, such as leasehold homes on Tsawwassen First Nation lands.
What Delta homeowners ask us about
Leasehold homes
Homes on Tsawwassen First Nation lands are usually sold as long-term leaseholds rather than freehold. Fewer lenders finance leaseholds, and the remaining lease term affects both the mortgage and resale.
Switching at renewal
Since November 2024, federally regulated lenders no longer have to apply the federal stress test when you switch an uninsured mortgage to them at renewal without adding money or extending the amortization. Insured mortgages that switch at renewal are also exempt.
Equity for the next step
A refinance or home equity line of credit can fund renovations, help family with a down payment or consolidate debt. Most lenders cap a refinance at 80% of your home's value.
How it works
Your Delta 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!
Delta mortgage questions
What is a leasehold property?
With a leasehold, you buy the right to use the home for the rest of a long-term lease rather than owning the land outright. Many homes on Tsawwassen First Nation lands are sold this way. Lenders want enough years left on the lease to outlast the mortgage, and some don't lend on leaseholds at all, so we line up one that does before you write an offer. The time left on the lease also affects what the home is worth when you sell.
How much equity can I take out of my home?
Most lenders will refinance up to 80% of your home's appraised value, minus what you already owe and any penalty. A home equity line of credit can make up to 65% of the value available as a revolving line, within that 80%. You have to qualify for the new total at the stress test rate, and refinancing mid-term usually means a prepayment penalty, so doing it at renewal is often simpler.
Can I switch lenders at renewal?
Yes, and at maturity you can move without a prepayment penalty. Federally regulated lenders have to send your renewal statement at least 21 days before your term ends, but we start comparing about four months ahead, since most lenders hold a rate for around 120 days. Since November 21, 2024, a straight switch, with the same balance and amortization, doesn't have to pass the stress test again. The new lender still reviews your income and credit.
Does the speculation and vacancy tax apply in Delta?
Yes. Delta is part of Metro Vancouver, which has been a taxable area since the tax began, so every residential owner declares by March 31 each year, even if exempt. Living in the home as your principal residence, or renting it to long-term tenants for at least six months of the year, generally exempts you.
Can I use my home's equity to help my child buy?
Yes. A refinance or a home equity line of credit on your home can fund a gift toward your child's down payment, as long as you qualify for the new borrowing. Insurers and lenders accept gifts from immediate family with a signed letter saying the money doesn't have to be repaid. Your child still has to qualify for their own mortgage. If you co-sign instead, their mortgage counts against your own borrowing.
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