BC Mortgages
BC Rates
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| Term | Lowest Fixed Rate | Lowest Variable Rate | ||
| 1-Year |  |
1.79% | ||
| 3-Year |  |
1.53% |  |
0.99% |
| 5-Year | |
1.74% | |
0.98% |
| 10-Year |  |
2.74% | ||
Land transfer tax is charged on the purchase price of a home in British Columbia at the rates listed below. First-time homebuyers purchasing a home under $425,000 will receive a full refund of their tax. For homes between $426,000 to $450,000, a partial refund will apply.
| Purchase Price of Home | Marginal Tax Rate |
| First $200,000 | 1.0% |
| Over $200,000 | 2.0% |
Mortgage default insurance or CMHC insurance is required in Canada for down payments of less than 20%.
| Down payment (% of home) | ||||
| 5%-9.99% | 10%-14.99% | 15-19.99% | 20% or higher | |
| CMHC insurance premium | 2.75% | 2.00% | 1.75% | 0.00% |
Additional criteria as of July 9th, 2012:
- The maximum amortization available on an insured mortgage (less than 20% down) is 25 years.
- Homes sold for more than $1,000,000 do not qualify for CMHC insurance and, therefore, require a down payment of at least 20%.
BC Mortgage Brokers
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Office Address: Vancouver, BCMortgage Provider: 
CanWise Financial
BC Mortgage Calculators
BC First Time Home Buyer Freebies
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First time home buyer Tax Credit Get $750 dollars back on your personal tax return.
Learn more -
Land transfer tax rebates Save up to $6,800 at
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time of closing. -
RRSP Home buyers Plan Access up to $25,000 from
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your RRSP tax-free.
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