Licensed broker. 50+ lenders on one application. Free to you, and you get your answer fast. Get Pre-Approved Today Call (416) 822-7357 ⭐ 5.0 Rating 49 Reviews 🏛️ FSRA Licensed #12685 (Verico MortgagePal Inc) 🏦 50+ Lenders Banks, Credit Unions & More 📍 Serving Burnaby Virtual Consultations Available Looking for today’s numbers? See the Burnaby mortgage rates guide. This page covers the broker service itself — how we get you approved. Mortgage Services in Burnaby Whether you’re buying your first home, refinancing, or investing—we have solutions for every situation. Home Purchase First-time buyer or upgrading? Access exclusive rates from 50+ lenders. Explore Home Purchase Options Refinancing Lower your rate, access equity, or consolidate debt with smart refinancing. Explore Refinance Options Mortgage Renewal Don't auto-renew! We'll negotiate better terms at renewal time. Explore Renewal Options Self-Employed Mortgages Flexible income verification for entrepreneurs and business owners. Explore Self-Employed Options Debt Consolidation Combine high-interest debt into one low mortgage payment. Explore Debt Consolidation Options Investment Property Financing for rental properties and real estate investors. Explore Investment Options Need something else? We also offer: Second Mortgage / HELOC, Bad Credit Solutions, Bridge Financing, Private Mortgages, Construction Mortgages, Reverse Mortgages, New to Canada Mortgages, Home Equity Loans, and more. Burnaby Housing Market — What It Means for Your Approval $1,050,000 Avg. Home Price -2.2% YoY Change Market Highlights ✓ Central Metro Vancouver location ✓ SkyTrain access throughout ✓ Mix of urban centers and residential areas ✓ More affordable than Vancouver with similar access Burnaby offers Metro Vancouver living at better value than Vancouver. Metrotown, Brentwood, and Lougheed provide urban amenities. Working With a Mortgage Broker in Burnaby — Common Questions How much do I need to buy a home in Burnaby? The average home price in Burnaby is $1,050,000. For resale homes over $1 million, you need at least 20% down ($210,000). However, first-time buyers purchasing new construction up to $1.5 million can access CMHC-insured mortgages with as little as 5% down and 30-year amortization. Condos averaging $685,000 offer a more affordable entry point. Use our mortgage calculator to estimate your monthly payments at current Burnaby rates. Should I use a mortgage broker or bank in Burnaby? A mortgage broker in Burnaby compares rates from 50+ lenders—banks, credit unions, and monoline lenders—at no cost to you. Major banks in the area include TD Canada Trust, RBC, Vancity. Brokers typically save Burnaby borrowers 0.25-0.50% compared to posted bank rates, which on a $800,000 mortgage saves $10,000-20,000+ over a 5-year term. How do I get pre-approved for a mortgage in Burnaby? Getting pre-approved for a Burnaby mortgage takes 24-48 hours. You'll need government ID, proof of income (pay stubs, T4s, or business financials if self-employed), bank statements, and a credit check. Pre-approval locks in your rate for 90-120 days at today's 3.94% fixed rate, confirms your budget, and shows Burnaby sellers you're a serious buyer. It's free and doesn't commit you to a lender. What first-time buyer programs are available in Burnaby, British Columbia? First-time buyers in Burnaby can access several programs: the First Home Savings Account (FHSA) for up to $40,000 in tax-free savings, the RRSP Home Buyers' Plan ($60,000 tax-free withdrawal), extended 30-year amortization on insured mortgages (new construction or homes up to $1.5M), and the First-Time Home Buyer Tax Credit ($1,500). BC first-time buyers are exempt from Property Transfer Tax on homes up to $500,000 (partial to $525,000). A Burnaby mortgage broker can help you maximize all available incentives. Is Burnaby a good alternative to Vancouver? Absolutely. Burnaby offers SkyTrain access to Downtown Vancouver in 20-30 minutes, with home prices $150,000-$200,000 lower. The Metrotown and Brentwood areas have developed significant urban amenities, reducing the need to travel to Vancouver for shopping and entertainment. Get Your Free Burnaby Mortgage Consultation Ready to explore your options? Contact us today for a free, no-obligation consultation. 📞 Phone: (416) 822-7357 ✉️ Email: mortgage@bestrates.ca 💻 Virtual Meetings: Zoom, Google Meet, or Phone Apply Online Now Takes just 5 minutes. No impact on your credit score. Also Serving Vancouver • New Westminster • Coquitlam • Port Moody • Richmond Licensed by Financial Services Regulatory Authority of Ontario under Brokerage #12685 (Verico MortgagePal Inc). All mortgage services subject to standard lending criteria and approval.
