Trusted mortgage services
Your Kelowna mortgage broker
Condos in Downtown and Pandosy, family homes with suites on the hillsides and rentals near UBC Okanagan. We compare over 50 lenders for you.
- 5-yr fixed
- 4.69%
- 5-yr variable
- 3.70%
Updated Oct 8 · on approved credit · Compare to bank rates
Kelowna mortgages, from the urban centres to the hillsides
Kelowna is growing in two directions. The City plans its towers and much of its new apartment housing for five urban centres: Downtown, Pandosy, Capri-Landmark, Midtown around Orchard Park, and Rutland. Meanwhile family homes keep climbing the hillsides in Wilden, Black Mountain, Kirschner Mountain, Kettle Valley and the Upper Mission, and many of those newer houses are built with a basement suite. Glenmore offers established houses, most of them from the 1970s and 1980s.
Up at the Gateway, UBC Okanagan and Kelowna International Airport anchor an area where the City wants more rental homes for students and staff. Across Okanagan Lake, West Kelowna is a separate city, and thousands of people live on Westbank First Nation land under long-term leases. Each of these comes with different lending rules, and we compare banks, credit unions and specialist lenders to match the property as well as the borrower.
What Kelowna buyers ask us about
Short-term rentals changed in 2026
Kelowna has been exempt from BC's principal residence requirement since June 1, 2026, but the City still allows full-time short-term rentals only in properties rezoned into its short-term rental subzone. Anywhere else, you have to live in the home to rent it short term.
Suites in newer homes
Many of Kelowna's newer hillside homes include a basement suite. Rent from a legal suite can count toward qualifying, but under the City's rules a suite can only be rented short term if the owner lives on the property.
Leasehold homes across the lake
Homes on Westbank First Nation land are held under long-term leases. Property tax is paid to the Nation instead of the province, and you can't claim the provincial home owner grant, though the Nation may offer its own. Fewer lenders finance leaseholds, so we line one up early.
How it works
Your Kelowna 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!
Kelowna mortgage questions
Can I buy a Kelowna condo to rent out nightly?
Only in the right building. Since the opt-out, the City allows full-time short-term rentals only in properties rezoned into its short-term rental subzone, and a strata's bylaws can still ban them. Everywhere else you must live in the home for most of the year, and every host needs a City business licence and provincial registration. Lenders also treat nightly rentals differently from long-term ones, so tell us your plans early.
Is West Kelowna part of Kelowna?
No. West Kelowna is its own city across Okanagan Lake, and Lake Country and Peachland are separate municipalities too. They are all in the Central Okanagan Regional District, but property taxes, zoning and permits come from each municipality, and lenders use the right figures for the home you are buying.
Does the speculation and vacancy tax apply in Kelowna?
Yes. Kelowna has been a taxable area since the tax began in 2018, so every owner of residential property declares by March 31 each year, even if exempt. Living in the home, or renting it to long-term tenants for at least six months of the year, generally exempts you. Westbank First Nation land is outside the taxable area.
Do foreign buyers pay extra tax in Kelowna?
Yes. The Central Okanagan is one of the regions where foreign nationals, foreign corporations and taxable trustees pay BC's additional property transfer tax of 20% on their share, on top of the regular tax. Confirmed BC Provincial Nominees buying a home to live in can be exempt, and federal rules separately restrict most non-Canadians from buying for now.
Can I buy a home near UBC Okanagan for my child?
Yes. If you won't live there yourself, lenders treat it as a rental, so plan on at least 20% down, and they look at your income and debts, including your own mortgage. Rent from your child's roommates can help you qualify, though lenders count it differently. The City's plan for University South favours rental housing for students and staff near campus.
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 8.
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 | 7.89% | 4.79% | Get this rate: 6 Months |
| 1 year fixed | 5.49% | 4.64% | Get this rate: 1 year fixed |
| 2 year fixed | 5.44% | 4.44% | Get this rate: 2 year fixed |
| 3 year fixed | 6.05% | 4.54% | Get this rate: 3 year fixed |
| 4 year fixed | 6.01% | 4.39% | Get this rate: 4 year fixed |
| 5 year fixed | 6.19% | 4.69% | Get this rate: 5 year fixed |
| 7 year fixed | 6.41% | 4.79% | Get this rate: 7 year fixed |
| 10 year fixed | 6.81% | 4.79% | 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