Buying your next home
Get ready to make your next move.
Whether you’re upsizing, downsizing or relocating, we can help you get ready to buy your next property.
If you’re moving to a new home before your current mortgage is paid off, you’ll still need to repay what you’ve borrowed. Here are a few options to help you out.
Mortgage options.
- Port your Vancity mortgage
Porting your existing mortgage with Vancity allows you to transfer the remainder of your mortgage terms over to the new property. You benefit from the rate and term you originally negotiated, and there’s no prepayment fee for settling the original mortgage early. Porting your mortgage is not available for every mortgage or borrower. Check with your mortgage specialist to see if you qualify. - Assumption of your mortgage
With an assumable mortgage, a qualified buyer could take on the remainder of your mortgage. They may want to do this if your original rates are lower than what they could get now. If you’re downsizing, this can help you avoid prepayment fees on the remainder of the term. - Take out a new mortgage
If you’re unhappy with your current mortgage lender, their services or their rates, you can choose to break your contract and pay a fee. Under Canada’s Stress Test Guidelines, you need to reapply to take out a new mortgage.
When you need to buy before you sell.
In an ideal world, the timing of selling and buying your home would line up perfectly. But this isn’t always the case. If you need to buy your next home before you sell your current one, there are ways you can still make a smooth transition.
Vancity offers financing that allows you to carry the mortgage on two properties for a specified amount of time to help bridge the gap between the closing of your current home. To learn more about your financing options, connect with a mortgage specialist.
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.
Featured mortgage rates.
Our top picks and special offers.
4.19%¤
3-year fixed-term fixed-rate insured
Book an appointment for a high-ratio insured mortgage. Terms and conditions apply.
4.24%**
Special offer
3-year fixed-term fixed-rate (special offer)
Special offer rate when you book an appointment for a fixed-term, fixed-rate mortgage. Terms and conditions apply.
4.24%¤
5-year fixed-term fixed-rate insured
Book an appointment for a high-ratio insured mortgage. Terms and conditions apply.
4.79%◊
1-year fixed-term fixed-rate
Great if you want to lock in a short-term mortgage and consider future refinancing options.
4.19%◊
2-year fixed-term residential
Great if you want to lock in a short-term mortgage. Terms and conditions apply.
4.39%◊,α
4-year fixed-term fixed-rate
Great if you want to count on making the same payment for your entire term.
4.44%◊
5-year fixed-term fixed-rate
Great if you want to count on making the same payment for your entire term.
3.95%◊
5-year fixed-term variable rate
Great if you want a variable rate with the security of predictable payments.
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 for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees which would increase your APR. 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 for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees which would increase your APR. Rate is subject to change or may be withdrawn without notice at any time.