Trusted mortgage services
Your Port Coquitlam mortgage broker
Family homes, townhomes and trail-side living in PoCo. 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 Port Coquitlam homes
Port Coquitlam is a family-oriented city ringed by the Traboulay PoCo Trail. Citadel Heights and Mary Hill have established homes, Oxford Heights and Riverwood are popular with families, and the downtown area has condos and townhomes close to the West Coast Express station.
Many PoCo homes have a suite or room to add one. We compare banks, credit unions and specialist lenders to make the most of rental income, and help with purchases, refinances, renewals and equity take-outs.
What Port Coquitlam homeowners ask us about
Adding a suite
A federal program lets eligible homeowners refinance with an insured mortgage of up to 90% of the home's value after the suite is built, as long as that value is under $2 million and the suite isn't used as a short-term rental.
Debt consolidation
Rolling high-interest debt into your mortgage through a refinance can lower your monthly payments. It works best with a plan so the debt doesn't come back.
Moving within the Tri-Cities
If you are moving up, compare porting and blending your current mortgage against breaking it. The penalty is often the deciding factor.
How it works
Your Port Coquitlam 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!
Port Coquitlam mortgage questions
How does the secondary suite refinance program work?
You can borrow up to 90% of your home's value after the suite is built, as long as that value is under $2 million, the extra borrowing doesn't exceed the cost of the project, and the new unit is self-contained and not used as a short-term rental. You must already own the home and live in it, or have a close relative living there.
Is consolidating debt into my mortgage a good idea?
It can be. Mortgage rates are usually far lower than credit card and car loan rates, so your total monthly payment often drops. But you spread that debt over many years, which can mean more interest overall, and breaking your mortgage mid-term usually costs a penalty. Most lenders let you borrow up to 80% of your home's value. We show you the total cost both ways, and it works best with a plan to pay the balance down faster than the minimum.
Can I refinance before my term ends?
Yes, but breaking a mortgage early usually means a penalty. On a fixed rate it is often the greater of three months' interest or the interest rate differential; on a variable rate it is usually three months' interest. A blend-and-extend with your current lender, a home equity line or waiting for renewal can cost less. Our renewal penalty tracker gives you a first estimate, and we compare the options side by side.
Can I refinance if my credit has slipped?
Often, yes, though maybe not with a bank. Each lender sets its own credit rules for a refinance, and late payments or high balances can rule some out. Alternative lenders and credit unions may approve you at a higher rate, and a second mortgage or private loan can help in the short term, with every fee disclosed up front. We look at your credit report first, because fixing a few items can open up more options.
Can I use my home's equity to buy a rental property?
Yes. A refinance or home equity line on your PoCo home can fund the down payment on a rental, as long as you qualify for both mortgages. A rental you won't live in needs at least 20% down, and lenders count part of the expected rent toward the new mortgage. Ask your accountant how the interest is treated for tax before you borrow, since it depends on how the money is used.
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