Trusted mortgage services
Your Surrey mortgage broker
From Fleetwood to South Surrey: family homes with suites, townhomes and first condos. 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
Surrey mortgages for growing families
Surrey is made up of six communities: City Centre (Whalley), Guildford, Fleetwood, Newton, Cloverdale and South Surrey. City Centre and Guildford have highrise condos, Fleetwood and Newton have established family homes, many with basement suites, and South Surrey ranges from Grandview Heights and Morgan Heights to larger homes on acreage.
Many Surrey homes are bought by extended families, with parents, adult children and siblings buying together and rent from a suite helping them qualify. We compare banks, credit unions and specialist lenders to find the ones that handle co-borrowers, gifted down payments and rental income the way you need.
What Surrey buyers ask us about
Buying with family
Lenders can combine the incomes of several co-borrowers, and everyone on the mortgage shares responsibility for it. We help you structure the application and talk through ownership before you buy.
Suites and coach houses
Rent from a legal suite or coach house can help you qualify, and a federal program now lets eligible homeowners refinance with an insured mortgage to add a secondary suite.
Gifted down payments
Down payment gifts from immediate family are accepted by insurers and most lenders, with a signed gift letter and proof the funds are in your account.
How it works
Your Surrey 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!
Surrey mortgage questions
Can several family members buy a home together?
Yes. Lenders can combine the incomes and debts of several borrowers, which can help a family qualify for a home none of them could buy alone. Everyone on the mortgage is responsible for all of it, not just their share, and it shows up on each person's credit. Agree in writing how ownership, payments and a future sale will be handled, and get independent legal advice if anyone is going on title mainly to help.
Does rent from an unauthorized suite count?
Some lenders will count part of the rent from a suite that isn't legal, but many won't, and your home insurance can be affected. A legal suite gets the best treatment, and BC now requires local governments to allow at least a secondary suite or a detached accessory dwelling unit on most single-family lots.
What documents do I need if I am self-employed?
Usually two years of personal tax returns (T1 Generals) and Notices of Assessment, your Statement of Business Activities if you are a sole proprietor, and the company's financial statements if you are incorporated. Lenders also like proof of how long you have been in business, such as a business licence or articles of incorporation, and recent business bank statements. Our self-employed income calculator shows how lenders may read your numbers.
Can I buy a home with a basement suite as my first home with 5% down?
Yes, if you will live in the main home and the price is under $1.5 million. A house with one suite counts as a two-unit home you live in, so the minimum down payment is 5% of the first $500,000 and 10% of the rest, with mortgage insurance. Part or all of the suite's rent can count toward qualifying, depending on the insurer and lender, and as a first-time buyer you may also qualify for a 30-year insured amortization.
Can we get the first-time buyer exemption if my parents are on title?
Partly. Only the buyers who qualify get BC's first-time buyer property transfer tax exemption, and it is reduced to their share of the home. If your parents have owned a home they lived in before, their share is taxed as normal. Who goes on title has other tax and legal effects too, so talk it through with your lawyer or notary, and an accountant, before you decide.
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