Private mortgage lenders in Vancouver: rates, how much you can borrow, and how it works
Rates, how much you can borrow and the Vancouver rules that matter, from a licensed broker in Surrey.
Written and reviewed by Asim Ali, Mortgage BrokerUpdated 5 November 2026
Licensed: BCFSA (BC) · RECA (Alberta) · FSRA (Ontario) · check our licences
Yes. We arrange private and B-lender mortgages across Vancouver, from West End and Kitsilano condos to houses in Kerrisdale, Killarney and Hastings-Sunrise. In November 2026, private first mortgages in Vancouver 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 Vancouver home?
Private lenders look at what your home is worth today and what you already owe. In Vancouver 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 Vancouver 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 Vancouver 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 Vancouver housing market doing, and why does it matter for your loan?
Greater Vancouver REALTORS, MLS HPI benchmark prices, October 2026. (members.gvrealtors.ca) Lenders lend on the appraised value of your own property, not the area figure.
Vancouver West and East are priced very differently, so lenders look at your street, not the city average. More than a third of homes are strata units and 43% were built before 1981, so strata documents and building condition shape most files. Homes on Musqueam reserve land are leasehold, and few lenders will lend on them. Main local industries: the port, professional and technical services, health care, education and tourism.
- Only 14.7% of occupied homes are single-detached houses, while 31.1% are in apartment buildings of five or more storeys (2021 Census). (www12.statcan.gc.ca)
- 36.7% of occupied homes are condominium (strata) units, well above the B.C. share of 23.6%, so strata documents, depreciation reports and special levies come up in most condo loans. (www12.statcan.gc.ca)
- 17.8% of occupied homes are counted by the census as an 'apartment or flat in a duplex', the category that in Vancouver largely captures houses with a secondary suite, so rental-suite income is common in house financing. (doodles.mountainmath.ca)
- 43.0% of occupied homes were built in 1980 or earlier (20.4% in 1960 or before), so older systems, renovations and building-condition issues often affect appraisals. (www12.statcan.gc.ca)
- 54.5% of households rent (second only to Victoria among these cities), which means many investor-owned condos and houses rely on rental income to qualify. (www12.statcan.gc.ca)
- Homes in Musqueam Park and Salish Park sit on Musqueam reserve land under leases from the Band, with leaseholders owning the house but paying the Band to lease the land; a 2015 rent increase was taken to the Federal Court by 69 families, so lenders look closely at the lease term and rent before financing. (amp.cbc.ca)
Who do we help in Vancouver?
Vancouver West's detached benchmark is $2,899,700, and the city has a large self-employed workforce: 17.7% of workers were self-employed in 2021, and 42.2% of residents are immigrants, many with income or assets that banks find hard to verify. Owners often hold a lot of equity but little provable income, or need short-term money to finish a renovation, buy before they sell, or catch up on Empty Homes Tax, speculation tax or strata special levies. Private and B-lenders lend mainly on the property's equity and a clear exit plan, which suits these situations.
“My lender sent a letter. They won't renew.”
What to do in the weeks before maturity.
How we handle itCheck my options“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“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“I need $120,000 against the house.”
Borrow to 80% combined without touching your first.
How we handle itCheck my options“House-rich, cash-poor at 68.”
Reverse mortgage, HELOC, private or downsizing.
How we handle itCheck my options
Which local rules affect a Vancouver property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Vancouver file.
Speculation and Vacancy Tax
Vancouver 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)
Vancouver Empty Homes Tax
On top of the provincial tax, the City of Vancouver charges an Empty Homes Tax of 3% of assessed value on homes declared or deemed empty; principal residences and homes rented out for at least six months of the year are not taxed, but every owner must declare each year. (vancouver.ca)
Short-term rental rules
In Vancouver, 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 Vancouver mortgage goes into default?
In BC a lender that is not paid can ask the BC Supreme Court for a foreclosure order. A Vancouver foreclosure petition is usually filed at the Vancouver Law Courts registry. 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 Vancouver?
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 Vancouver neighbourhoods and nearby towns do we cover?
- Kitsilano
- Mount Pleasant
- Kerrisdale
- Dunbar-Southlands
- Marpole
- Killarney
- Hastings-Sunrise
- Renfrew-Collingwood
- Riley Park
- Grandview-Woodland
- Shaughnessy
- West End
We also lend in Burnaby, Richmond, North Vancouver, West Vancouver, New Westminster, and anywhere else in British Columbia.
Vancouver private mortgage questions
Can I get a private mortgage in Vancouver with bad credit?
Yes. Private lenders in Vancouver 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 Vancouver?
A written commitment usually takes 1-2 business days. The appraisal in Vancouver 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 Vancouver?
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.
Do I need to visit your office to get a mortgage in Vancouver?
No. Vancouver files are handled from our Surrey office by phone and video. A local appraiser visits the property and you sign with a lawyer in or near Vancouver. Our licence in British Columbia is with BCFSA; you can check it on the regulator's site.
Do private lenders lend on Vancouver leasehold homes?
A few do, at lower limits, and only with enough years left on the lease. Homes in Musqueam Park and Salish Park are on leased reserve land, and most banks and many private lenders decline them. Tell us the address first and we will check before you pay for anything.
Can I borrow against a Vancouver house with a basement suite?
Yes. Lenders lend on the whole house, and many will count part of the suite rent if the suite is legal or the rent shows on your tax return. With Vancouver values, even a 60% loan is often enough to clear debts or fund a renovation.
Other cities in British Columbia
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