3.9%
Lowest Rate
$975,000
Avg Home Price
2 min
Quick Pre-Approval
30+
Lenders Compared
British Columbia Mortgage Market Overview
Buying Costs
Land Transfer Tax:1% - 3% (plus foreign buyer tax 20%)
First-Time Buyer Rebate:Up to $8,000 on homes under $500K
Population:5.4 million
Key Facts
- Second most expensive housing market
- Public auto insurance through ICBC
- Speculation and vacancy tax in certain areas
- Property Transfer Tax exemptions for new homes
Why Compare Mortgage Rates in British Columbia with RateView?
Access to 30+ banks and lenders in one place
No impact to your credit score for pre-approval
Expert mortgage specialists familiar with British Columbia market
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Understanding of British Columbia-specific programs and incentives
Frequently Asked Questions About British Columbia Mortgages
What is the average home price in British Columbia?
The average home price in British Columbia is approximately $975,000. Prices vary significantly by city, with Vancouver typically having higher prices than other areas.
What is the land transfer tax in British Columbia?
British Columbia has a land transfer tax of 1% - 3% (plus foreign buyer tax 20%). First-time buyers may be eligible for: Up to $8,000 on homes under $500K.
How do I get the best mortgage rate in British Columbia?
To get the best rate, compare multiple lenders, maintain a good credit score (680+), have a stable income, and consider making a larger down payment. RateView helps you compare 30+ lenders instantly.