Trusted mortgage services
Your Maple Ridge mortgage broker
Family homes with suites, new builds in Silver Valley and acreages out east. We compare over 50 lenders for you.
- 5-yr fixed
- 4.89%
- 5-yr variable
- 3.70%
Updated Oct 27 · on approved credit · Compare to bank rates
Mortgages for Maple Ridge homes
Maple Ridge offers more room for your money between the Fraser River and the Golden Ears mountains. Haney and Port Haney have condos and older homes, Albion, Cottonwood and Silver Valley have newer subdivisions, and Whonnock, Websters Corners and Thornhill have acreages and rural homes.
With the West Coast Express and the Golden Ears Bridge, plenty of buyers commute. We compare banks, credit unions and specialist lenders, help you count rental income from a suite, and plan purchases that close before or after a sale.
What Maple Ridge buyers ask us about
Homes with suites
A legal suite can help you qualify, because lenders count part of the rent. If you plan to add one, a federal program now allows eligible homeowners to refinance with an insured mortgage to build a secondary suite.
Rural properties
Homes on wells and septic systems are normal in east Maple Ridge. Lenders want inspections and water tests, so build them into your offer conditions.
First-time buyers
First-time buyers may qualify for a 30-year insured amortization, and can combine an FHSA with the RRSP Home Buyers' Plan for a bigger down payment.
How it works
Your Maple Ridge 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!
Maple Ridge mortgage questions
How much of my suite's rent counts toward qualifying?
It depends on the lender and the insurer. Some add a portion of the rent to your income; others subtract it from the property's costs. A legal, self-contained suite with a lease or an appraiser's rent estimate gets the best treatment.
What is the mortgage stress test?
It is the rate you have to qualify at: the greater of 5.25% or your contract rate plus 2%. It applies to insured mortgages, and to uninsured ones at federally regulated lenders. It doesn't change your actual payment; it sets the maximum you can borrow, so you have some room if rates are higher at renewal. Since November 21, 2024, a straight switch to a new lender at renewal, with the same balance and amortization, doesn't have to pass it again.
Can I buy a home that needs work?
Yes. A purchase-plus-improvements mortgage adds the renovation cost to your mortgage, based on written quotes, and the lender releases the money once the work is done and inspected, so plan to cover your contractor until then. It suits updates like flooring, a kitchen or a roof. For bigger projects, such as adding a suite, a renovation loan, a home equity line or a later refinance may suit better. Get your inspection done before you remove subjects.
Is a pre-approval a guarantee?
No. A pre-approval means a lender has looked at your income, credit and down payment and is holding a rate for you, usually for 90 to 120 days. Final approval still depends on the lender checking your documents and approving the property itself, often with an appraisal. That is why we recommend making your offer subject to financing, and keeping your job, debts and credit steady until you get the keys.
Should I open an FHSA even if I plan to buy soon?
Usually, yes, if you are a first-time buyer. Room only starts adding up once the account is open: $8,000 a year, up to $40,000, and up to $8,000 of unused room carries forward. Contributions are tax-deductible, and a qualifying withdrawal for your first home is tax-free. You can use it alongside the RRSP Home Buyers' Plan, which lets you take up to $60,000 per person, so a couple can put both to work on the same home.
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