Trusted mortgage services
Your Pitt Meadows mortgage broker
Townhomes, family homes and farmland between the rivers. 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 Pitt Meadows homes
Pitt Meadows is a small city with a lot of open space, bordered by the Pitt and Fraser rivers and surrounded by farmland. Most homes are in the central area around Harris Road, Osprey Village and South Bonson, with townhomes, condos and family homes, and rural properties to the north.
Commuters use the West Coast Express and the Golden Ears and Pitt River bridges. We help Pitt Meadows buyers and homeowners compare banks, credit unions and specialist lenders for purchases, renewals and refinances.
What Pitt Meadows homeowners ask us about
Townhomes
Many Pitt Meadows homes are townhomes in stratas. Lenders include half of your strata fee in your qualifying ratios, so factor it into your budget.
Farm and rural properties
Much of Pitt Meadows is in the Agricultural Land Reserve. Rural properties usually need well, septic and road-access checks, and larger parcels may need a specialist lender.
Renewing soon?
Start comparing about four months before your renewal date. Your lender's first renewal offer isn't always its best, and switching can be simpler than you think.
How it works
Your Pitt Meadows 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!
Pitt Meadows mortgage questions
When should I start shopping my renewal?
About 120 days, or four months, before your maturity date. Most lenders will hold a rate for about that long, so you can secure a rate early and still take a lower one if rates drop before you renew. It also leaves time to switch lenders if another offer suits you better, since a new lender needs a few weeks to approve the file and arrange the payout. We remind our clients about four months ahead.
What happens if I do nothing at renewal?
Your lender may renew you automatically into a new term, often at its standard renewal rate rather than a discounted one, and you lose the chance to compare. If you miss the date, some lenders move you to a short open term at a higher rate until you decide. Either way, you can choose another lender or term at maturity without a penalty, so look at your options well before the date on your renewal statement.
Do I need mortgage insurance with 20% down?
No. With at least 20% down, you don't need mortgage default insurance, so there is no premium to pay. Below 20%, insurance from CMHC, Sagen or Canada Guaranty is required, and the premium runs from 2.80% to 4.00% of the mortgage depending on your down payment, plus 0.20% for a 30-year amortization. It is usually added to your mortgage rather than paid up front. Our mortgage insurance estimator shows the cost for your numbers.
Can I add money or change my amortization at renewal?
Yes. Renewal is a good time to refinance, because there is no prepayment penalty at maturity. You can borrow up to 80% of your home's value for renovations or debt consolidation, or stretch the amortization to lower your payment. Either change counts as a refinance, though, so you have to qualify again at the stress test rate, and the lender will usually want an appraisal and updated income documents.
What documents do I need to switch lenders at renewal?
Usually your renewal statement or latest mortgage statement, photo ID, proof of income such as a recent pay stub and an employment letter, or two years of Notices of Assessment if you are self-employed, and your latest property tax notice. For a townhome, the new lender may also ask for strata documents, and it needs your home insurance details before the switch completes. Send them early and we handle the rest with the new 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