Trusted mortgage services
Your Mission mortgage broker
River views, family homes and rural acreages on the north side of the Fraser. 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
Mortgages for Mission homes
Mission sits on the north bank of the Fraser River across from Abbotsford, with the West Coast Express connecting it to Vancouver. Cedar Valley and Hatzic have newer family homes, the downtown core has older homes and condos, and Silverdale, Steelhead, Durieu and Stave Falls are rural.
Buyers often come to Mission for space and value. We compare banks, credit unions and specialist lenders to make the most of your budget, whether you are buying your first home, moving up or buying land to build on.
What Mission buyers ask us about
Building your own home
If you have bought land and want to build, a construction mortgage releases money in stages as the work is completed. Lenders want your plans, budget, permits and builder details up front.
Rural homes
Well and septic inspections, year-round road access and the size of the parcel all affect which lenders will finance a rural property. We check before you commit.
Longer amortizations
First-time buyers and buyers of newly built homes may qualify for a 30-year insured amortization. It lowers the monthly payment, though you pay more interest over time.
How it works
Your Mission 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!
Mission mortgage questions
Can I get a mortgage to build a house?
Yes. A construction mortgage advances funds in draws as each stage of the build is finished and inspected, and you usually pay interest only on what has been drawn. You will need the land, permits, plans and a detailed budget.
Is a longer amortization a good idea?
It lowers your monthly payment, which can help you qualify, but you pay more interest over the life of the mortgage. Many people take the longer amortization for flexibility and use prepayment privileges to pay it down faster.
Can family help with my down payment?
Yes. A gift from an immediate family member, such as a parent, grandparent or sibling, can make up all or part of your down payment, including on an insured mortgage. The lender will want a signed gift letter confirming the money doesn't have to be repaid, and proof that the funds are in your account before closing. Some lenders accept gifts from other relatives too, so ask us if yours comes from someone else.
What do lenders check on a rural Mission property?
Year-round road access, a well that passes water quality and flow tests, a septic system that passes inspection, and the size and zoning of the parcel. Your home insurer may also ask how far the home is from a fire hall or hydrant, and the lender needs insurance in place before it funds. Build these checks into your offer conditions, and give yourself enough time, because rural water and septic results can take a while to come back.
Can I get a mortgage to buy a vacant lot?
Yes, but it works differently from buying a home. Fewer lenders finance bare land, and they usually ask for a much larger down payment, especially for rural land without road access, power or water. A serviced lot in town is easier to finance than raw acreage. If you plan to build soon, some lenders will roll the land into a construction mortgage, so tell us your timeline and we will match the right lender.
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