Private Mortgage in Vancouver: Compare BC Lender Options 2026

Why Vancouver homeowners use private mortgages

Five typical Vancouver scenarios where private mortgages are the right fit, in order of how often we see them:

1. Bridge financing on a Vancouver detached purchase — buying the next home before the current one sells. Vancouver's 30-60 day average days-on-market means many sellers can't wait for the current sale.
2. Cash-out refinance for a high-value Vancouver home — homeowners with $1.5M+ properties wanting to access $300K-$700K in equity without breaking a low-rate existing 1st mortgage.
3. Self-employed Vancouver business owners declined by banks due to tax-optimized income reporting.
4. Recently declined mortgage applications due to stress-test failures, especially common with the income required to qualify for a Vancouver-priced home.
5. Distressed scenarios — foreclosure proceedings, missed payments, urgent need for capital to avoid forced sale.

Vancouver private mortgage rate ranges (mid-2026)

General market ranges, OAC. Vancouver's high property values often qualify for the lower end of these ranges because absolute equity dollars are larger.

Active private lenders in Vancouver

The Vancouver market has both BC-headquartered MICs (Fisgard, Vault) and major national MICs that compete aggressively for Vancouver files (CMI, Antrim, Romspen, VWR). Vancouver typically gets the deepest competition — which means better rates and faster decisions than smaller BC markets. Individual private lenders are also more active in Vancouver than anywhere else in the province.

Full directory: BC Mortgage Lender Directory covers active lenders by tier with their criteria.

Quick math on a typical Vancouver private deal

Example — Vancouver detached worth $1.8M with an existing $700K 1st at 4.2% (locked in 2022). Owner needs $250K cash. Options:

• Refinance to a new $950K 1st at 6.5% — pays out the cheap existing 1st, costs ~$10K IRD penalty + 1% fee = $19.5K upfront, plus paying 6.5% on the full $950K vs 4.2% on $700K = roughly +$30K/year in interest.
• Add a $250K private 2nd at 11.5% + 2% fee — keeps the cheap 1st in place, costs $5K fee upfront, pays $28.7K/year interest on the new $250K only. The cheap 1st stays cheap.

The 2nd wins by ~$25K/year because Vancouver's high property values let the existing low-rate 1st do its job. The calculator lets you model your specific numbers.

Vancouver-specific factors that affect approval

• Postal code matters at MICs. Central Vancouver, West Side, downtown, and high-equity neighbourhoods (West Point Grey, Shaughnessy, Kerrisdale) get most flexible terms. East Vancouver and outer postal codes still funded but at slightly higher rates.
• Property type. Detached homes and boutique townhouses are universally accepted. Vancouver condos in newer buildings with strong stratas are fine. Older buildings with depreciation reports flagging major issues get slower approvals.
• Leasehold properties (e.g. Squamish Nation land in Kitsilano, UEL leasehold) are funded by a narrower lender pool — most major MICs decline, individual private lenders take them.
• Vancouver Empty Homes Tax / Speculation Tax compliance is checked at closing. Out-of-province owners with vacant Vancouver properties have additional documentation requirements.

What to have ready before applying

• Current Vancouver property tax assessment (BC Assessment website)
• Current mortgage statement (for refinance)
• Purchase agreement (for purchase financing)
• Recent appraisal or comparable sales data for your specific Vancouver neighbourhood
• Income picture (T1s, business statements, or a clear statement that the deal is equity-based)
• Exit plan in writing: how you refinance out within 12-18 months
• Government ID and void cheque

Frequently asked questions