Many homeowners are exploring the possibility of building a laneway house on their land.
A laneway house can add significantly to the value of your property and provide rental income or additional living space for your family. If you’re thinking of building a laneway house, we offer a mortgage package custom-designed to help you get the project underway.
The Laneway Homebuyers’ Bundle includes $750 in closing costs and appraisal services, plus a preferred interest rate and the potential to earn up to 1% cash back*.
Features and benefits
- Designed specifically for homeowners who want to build a laneway home on their property
- Enjoy a preferred rate on a 5-year, 7-year, or 10-year fixed-rate mortgage, or on a 5-year Homeprime fixed term mortgage.
- Get up to 1% of the mortgage principal as cash back* when you transfer an existing mortgage to Vancity
- Spend your cash on renovations, investments, or anything else you choose
- Get a $750 in closing costs and free appraisal of your home for the project
If you live in Vancouver, you want to find out if you are eligible to build a laneway house on your property, visit the City of Vancouver website. You’ll find lots of valuable information to help you get started, including a zoning lookup tool and a step-by-step how-to guide.
How to apply
You can apply for a Vancity mortgage online, at your branch, or by calling the Member Services Centre at 604.877.7000 or toll free at 1.888.Vancity (826.2489).
You can also contact a Vancity mortgage specialist to discuss mortgage options, ask questions, and receive personalized mortgage advice. Our specialists will travel to meet you at your home, office, or any other convenient location. Find a mortgage specialist in your area.
* Transfer your mortgage to Vancity from another financial institution and we will give you cash back in an amount of up to 1% of the mortgage principal. The cash-back offer does not apply to new mortgages. Cash back is paid on the date the mortgage is funded. If the mortgage is not funded, no cash back will be paid. If you choose to break your mortgage commitment for any reason prior to maturity, you will be required to repay a portion of the cash back received.