Buying your second home
Buy a second home with confidence.
Whether you’re upsizing, downsizing or relocating, we can help you get ready to buy your next property.
Buying a second home.
If you’re ready to invest in a family retreat, rental property, or future retirement home, it’s important to understand the requirements and responsibilities of financing a second property.
Multi-use second property
Required down payment
Minimum of 5%
Vacation property
Required down payment
Minimum of 5%
Investment property
Required down payment
Minimum of 20%
An immediate family member is defined as a person related to the borrower by marriage, common-law partnership, or any legal parent-child or sibling relationship.
Options for financing your second property.
Home equity line of credit (HELOC)
Leverage up to 65% of your home’s current market value to purchase your second home.
Second home insured mortgage
A mortgage option that allows eligible borrowers to buy a second property with as little as 5% down.
Conventional mortgage
Purchase a second property with a conventional mortgage and a down payment of 20% or more.
Cash back offer
Get up to $5,200 in value with a new mortgage.
Offer expires December 15, 2026. Terms & conditions apply.
Make your new home yours.
Found a second home with great potential but have a few things you’d like to change? You can borrow for upgrades and renovations as part of your mortgage and enjoy the convenience of simplified payments and potentially better terms.
Talk to us and find out if combining your home purchase and improvement costs is the right fit for you.
Find a specialist near you.
Interested in a new mortgage or refinancing? Browse our mortgage specialists to connect with someone in your area
Talk through your questions.
For general mortgage inquiries or help with renewing your mortgage, book a time that works for you and we’ll give you a call back.
View our most popular rates.
Lock in a mortgage rate as low as 4.22% APR. Plus up to $5,200 in value with your new Vancity mortgage. Terms and conditions apply.
4.73% APR¤3-year fixed-term, fixed-rate, high-ratio insured
4.78% APR** Special offer3-year fixed-term, fixed rate
4.22% APR◊5-year fixed term, variable rate††
Tools to help you get on track.
Some conditions apply. This advertised rate is only available to members with 20% or greater down payment on the property, purchasing a residential owner-occupied property with purchase price under $1,000,000, and mortgage amortization of 25 years or less. All applicants must meet the Vancity lending criteria. The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is based on a mortgage of $300,000 with monthly payments, a 25 year amortization and an appraisal fee of $300. Appraisal fees are subject to change and an increase may result in an increase to the APR. You may be required to pay additional fees which would increase your APR. If there are no cost of borrowing charges, the APR and the interest rate will be the same. Rate is subject to change or may be withdrawn without notice at any time.
Some conditions apply. This advertised rate is only available to members with 20% or greater down payment on the property, purchasing a residential owner-occupied property with purchase price under $1,000,000, and mortgage amortization of 25 years or less. All applicants must meet the Vancity lending criteria. The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is based on a mortgage of $300,000 with monthly payments, a 25 year amortization and an appraisal fee of $300. Appraisal fees are subject to change and an increase may result in an increase to the APR. You may be required to pay additional fees which would increase your APR. If there are no cost of borrowing charges, the APR and the interest rate will be the same. Rate is subject to change or may be withdrawn without notice at any time.