Private mortgage lenders in Surrey: rates, how much you can borrow, and how it works
Rates, how much you can borrow and the Surrey rules that matter, from a licensed broker with an office in Surrey.
Written and reviewed by Asim Ali, Mortgage BrokerUpdated 5 November 2026
Licensed: BCFSA (BC) · RECA (Alberta) · FSRA (Ontario) · check our licences
Yes, and our office is here, on 137 Street in Newton. We arrange private and B-lender mortgages across Surrey, from Newton and Fleetwood to Cloverdale, Panorama Ridge and South Surrey. In November 2026, private first mortgages in Surrey run about 7.49% to 10.99% and private seconds about 9.49% to 14.99%, interest-only, plus a lender fee and our broker fee, shown in dollars before you commit. Most lenders go to 75% of the appraised value on a first mortgage and 80% combined with a second here. A written commitment usually comes in 1-2 business days and the money in 5-12 business days.
How much can I borrow against my Surrey home?
Private lenders look at what your home is worth today and what you already owe. In Surrey most will lend to 75% of the appraised value on a first mortgage and 80% combined when a second sits behind your current mortgage. Move the sliders to see your own numbers.
You could borrow up to
- Combined loan-to-value
- Likely second-mortgage rate
- Interest-only payment
- Equity you keep
Estimate only, as of November 2026. Lenders use the appraised value, not the assessment. Fees come off the advance.
What are private mortgage rates in Surrey right now?
Rates depend mostly on loan-to-value. The lower your loan against the home, the lower the rate. These are the ranges we see on Surrey files in November 2026.
| Loan-to-value | Private first mortgage | Private second (combined) |
|---|---|---|
| Up to 55% | 7.49-8.49% | 9.49-10.49% |
| 55-65% | 8.49-9.49% | 10.49-11.99% |
| 65-70% | 9.49-10.49% | 11.99-12.99% |
| 70-75% | 10.49-10.99% | 12.99-13.99% |
| 75-80% | Not offered here | 13.99-14.99% |
Interest-only, 12-month terms. Add a lender fee (usually 1-3%), our broker fee (shown in writing first) and about $1,500-2,500 legal. Full rates, fees and APR · All of British Columbia
What is the Surrey housing market doing, and why does it matter for your loan?
Fraser Valley Real Estate Board, Surrey MLS HPI benchmark prices, October 2026. (fvreb.bc.ca) Lenders lend on the appraised value of your own property, not the area figure.
Surrey's detached benchmark fell almost 8% in the year to October 2026, and condo apartments almost 10%. Nearly one in ten Surrey households is multigenerational, more than double the BC share, and many houses have a suite. Lenders look at the whole household, and at whether the suite is legal. Main local industries: retail, health care, construction, transportation and trucking, and manufacturing.
- 9.6% of Surrey households are multigenerational, compared with 3.7% across B.C. (2021 Census), so many homes are bought and carried by extended families with several incomes on title. (www12.statcan.gc.ca)
- 22.9% of occupied homes are counted as an 'apartment or flat in a duplex', the census category that largely captures houses with a secondary suite, so suite income is common in Surrey house financing. (www12.statcan.gc.ca)
- Row houses make up 16.7% of occupied homes and 21.7% of homes are condominium (strata) units, so townhouse and condo strata reviews are routine. (www12.statcan.gc.ca)
- Agriculture in Metro Vancouver happens mostly on Agricultural Land Reserve land in places including Surrey, which had 439 farms in the 2016 Census of Agriculture; ALR acreages limit the uses and house sizes allowed and are financed by fewer lenders. (metrovancouver.org)
- Most of Surrey's housing is newer: only 19.6% of occupied homes were built in 1980 or earlier, against 34.8% across the Vancouver CMA. (www12.statcan.gc.ca)
Who do we help in Surrey?
Surrey has an unusually large owner-operator and trucking workforce (transportation and warehousing employs 10.0% of workers, almost double the B.C. share), along with 15.0% self-employment and many multigenerational homes with suites. Banks often discount write-offs, cash-heavy business income and pooled family income, while private and B-lenders look at equity, suite rent and the overall household. With the detached benchmark down 7.7% in a year, some owners also need help refinancing or consolidating debt before renewal.
“Nine years on time, and they won't renew me.”
B-lender on bank statements, or a 12-month private first.
How we handle itCheck my options“CRA put a lien on the house.”
The lawyer pays CRA at funding. The lien comes off.
How we handle itCheck my options“I need $120,000 against the house.”
Borrow to 80% combined without touching your first.
How we handle itCheck my options“We close in 10 days and our buyer walked.”
Private bridge on one or both homes, 5-10 days.
How we handle itCheck my options“The house is 70% built and the draws stopped.”
Completion, draw and land financing.
How we handle itCheck my options
Which local rules affect a Surrey property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Surrey file.
Speculation and Vacancy Tax
Surrey is in a taxable region. Every owner must file a declaration each year. A home left empty, or owned by people who earn most of their income outside Canada, can be taxed on its assessed value. (www2.gov.bc.ca)
Short-term rental rules
In Surrey, short-term rentals are limited to your own home plus one suite or laneway home on the same lot. Lenders will not count rental income that breaks the rule. (www2.gov.bc.ca)
Home Flipping Tax
Since 1 January 2025, selling a home within 730 days of buying it can trigger a tax of up to 20% of the profit. It matters if your plan is a quick sale. (www2.gov.bc.ca)
Property transfer tax
Buyers pay 1% on the first $200,000, 2% up to $2 million and 3% above that, with more on homes over $3 million. A refinance does not trigger it. (www2.gov.bc.ca)
What happens if a Surrey mortgage goes into default?
In BC a lender that is not paid can ask the BC Supreme Court for a foreclosure order. The nearest BC Supreme Court registry is New Westminster; the Surrey courthouse hears Provincial Court cases only. The court usually gives a redemption period, often six months, to pay out or sell. A private refinance or a planned sale inside that window stops the process.
Your mortgage is registered with the Land Title and Survey Authority (LTSA). If a demand letter or court paper has arrived, read how to stop foreclosure or power of sale and call us the same day.
How does getting a private mortgage work if you live in Surrey?
Form or call. Same-day callback, 8am-8pm Pacific, seven days.
Lender named, rate, fees and APR in writing, usually in 1-2 business days.
A local appraiser visits. You sign with a lawyer near you. No office visit needed.
Money in 5-12 business days. We write down how you get back to a bank.
Which Surrey neighbourhoods and nearby towns do we cover?
- City Centre (Whalley)
- Guildford
- Fleetwood
- Newton
- Cloverdale
- South Surrey
- Panorama Ridge
- Sullivan Heights
- Clayton Heights
- Morgan Creek
- Bridgeview
- Port Kells
We also lend in Delta, Langley, White Rock, New Westminster, Burnaby, Coquitlam, and anywhere else in British Columbia.
Surrey private mortgage questions
Can I get a private mortgage in Surrey with bad credit?
Yes. Private lenders in Surrey look at your equity, the property and your way out more than your score. Scores under 600, a consumer proposal or CRA arrears are common files. What decides the answer is usually loan-to-value: most lenders here stop at 75% for a first mortgage.
How fast can a private mortgage fund in Surrey?
A written commitment usually takes 1-2 business days. The appraisal in Surrey takes 2-5 days, then both lawyers need a few days. Plan on 5-12 business days from your first call to money in your account.
What does a private second mortgage cost in Surrey?
Example: a $100,000 second at about 70% combined loan-to-value, at 11.99% interest-only for 12 months, with a 2% lender fee, a 1.5% broker fee, $1,800 legal and a $450 appraisal. Interest is about $11,990 and fees about $5,750, so the year costs about $17,740, an APR of about 17.7%. Your own numbers come in writing before you commit.
Can I meet you in person in Surrey?
Yes. Our office is at 7327 137 Street, Suite 311, Surrey. Most people start by phone or the form, then meet us at the office or sign online, whichever is easier.
Can a truck owner-operator get a mortgage in Surrey?
Yes. Many owner-operators show low taxable income after write-offs. A B-lender can use business bank statements instead of tax returns. If time is tight or there is CRA debt, a 12-month private mortgage can bridge to that B-lender.
Other cities in British Columbia
Sources. www12.statcan.gc.ca · fvreb.bc.ca · metrovancouver.org · www2.gov.bc.ca · vancouver.ca
Talk it through with a licensed broker before you decide
Tell us what is going on in a few lines. We call you back the same day with what lenders will say, what it costs in dollars, and how you get back to a bank. If private is the wrong tool, we say so.
- Your full cost, in dollars, before you commit
- The lender named on your commitment letter
- A written plan to exit within 12-24 months
Asim Ali, Mortgage BrokerSurrey office · BC, Alberta and Ontario
Tell us three things. A licensed broker calls you today.
No credit check. No ID. No date of birth. We ask what a lender decides on: the property, the equity and the deadline.
- 1Same-day call from Asim Ali or a licensed colleague
- 2A range for rate, fees and APR on the call
- 3Written commitment in 1-2 business days if you go ahead
- 4Nothing to pay until the mortgage funds
Asim Ali, Mortgage Broker
Licensed in BC, Alberta and Ontario · (604) 591-3590