Trusted mortgage services
Your White Rock mortgage broker
Ocean-view condos, hillside homes and beachside living. We compare over 50 lenders for you.
- 5-yr fixed
- 4.69%
- 5-yr variable
- 3.70%
Updated Oct 8 · on approved credit · Compare to bank rates
Mortgages for White Rock homes
White Rock is a small seaside city on Semiahmoo Bay, known for its pier and waterfront promenade. East Beach and West Beach have homes and condos stepped up the hillside for the views, while Uptown and Five Corners have condo buildings close to shops and services.
Many White Rock buyers are downsizing or moving from elsewhere in the Lower Mainland, and many already own a home. We help you line up bridge financing, compare lenders and explore ways to use your equity.
What White Rock homeowners ask us about
Downsizing
Selling a family home to buy a condo? Bridge financing can cover the gap between closings. You may not need a mortgage at all, but it can make sense to keep some savings free.
Equity options at 55+
Homeowners 55 and older can use a reverse mortgage to access equity with no regular payments, or a home equity line of credit if they can make payments. Each has trade-offs.
Hillside condos
Lenders review the strata's depreciation report, reserves and insurance, and half your strata fee counts toward your qualifying ratios.
How it works
Your White Rock 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!
White Rock mortgage questions
How does a reverse mortgage work?
It lets homeowners 55 and older borrow against their home with no required monthly payments. Interest builds up and is repaid when the home is sold or the last borrower moves out. How much you can borrow depends on your age, the home's value and its location.
Can I buy before I sell?
Yes. With a firm sale, bridge financing lends you the equity from your current home for the days or weeks between the two completions. Without a firm sale, we look at whether you can qualify to carry both homes for a short time, or use a home equity line on your current home for the down payment. You can also make your purchase subject to the sale of your home, though that can make your offer less attractive to the seller.
Is White Rock part of Surrey?
No. White Rock is its own city, surrounded by South Surrey, so property taxes, permits and zoning go through the City of White Rock, not Surrey. Real estate listings often group the two as South Surrey and White Rock, so check the municipality on the property tax notice. Lenders use that municipality's tax figures when they work out how much you qualify for.
Can I get a mortgage when I'm retired?
Yes. Lenders qualify retirees on steady income such as pensions, CPP and OAS, RRIF withdrawals and investment income, using recent statements and Notices of Assessment. Some lenders can also consider your savings and investments when your income is modest. The usual debt ratios and stress test still apply, so a smaller mortgage or a home equity line is often easier to arrange than a large one. We look at your whole picture before you commit to a purchase.
Can I renew my mortgage after I retire?
Yes. Renewing with your current lender usually doesn't require you to qualify again, even if your income has dropped. You can also switch lenders at renewal: since November 21, 2024, a straight switch with the same balance and amortization doesn't have to pass the stress test, though the new lender still reviews your income and credit. We start comparing offers about four months before your renewal date.
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 8.
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 | 7.89% | 4.79% | Get this rate: 6 Months |
| 1 year fixed | 5.49% | 4.64% | Get this rate: 1 year fixed |
| 2 year fixed | 5.44% | 4.44% | Get this rate: 2 year fixed |
| 3 year fixed | 6.05% | 4.54% | Get this rate: 3 year fixed |
| 4 year fixed | 6.01% | 4.39% | Get this rate: 4 year fixed |
| 5 year fixed | 6.19% | 4.69% | Get this rate: 5 year fixed |
| 7 year fixed | 6.41% | 4.79% | Get this rate: 7 year fixed |
| 10 year fixed | 6.81% | 4.79% | 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