Laneway house mortgage
Community starts in your backyard.
Build a laneway home to add housing to an established neighbourhood, enhance and diversify your community, and increase the value of your property.
Key features.
Bundled services to get you started
The Laneway Homebuyers’ Bundle includes $750 in closing costs and appraisal services, plus a preferred interest rate*.
Added value and increased income
A laneway house can add significantly to the value of your property and provide rental income or additional living space for your family.
More to love about this mortgage.
- Choice of payment frequency
Make payments weekly, bi-weekly, monthly, semi-monthly, accelerated weekly, or accelerated bi-weekly. Paying more frequently will save you interest and shorten the time it takes to pay off your mortgage. - Support with closing costs and appraisal services
The Laneway Homebuyers’ Bundle includes $750 to help cover closing costs and appraisal services. - Choose your rates, term, and amoritaztion
With a laneway house mortgage, you can choose from a variety of mortgage options to find the rates and terms for your lifestyle and budget. Explore all Vancity mortgage rates.
Vancouver residents.
If you live in Vancouver, visit the City of Vancouver website to find out if you’re eligible to build a laneway house on your property. 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.
Eligibility.
You are at least 19 years old
The home you’re looking to purchase or build is in British Columbia
You live in British Columbia and have a BC address
You meet our affordability requirements
The stress test is a formula set by the federal government to help ensure your mortgage payments remain affordable. Your affordability is assessed using the greater of the contractual mortgage rate plus 2%, or the OSFI Minimum Qualifying Rate (5.25%, as of December 15, 2022).
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.
Explore other mortgage types.
Construction mortgage
Streamline your build’s planning process, simplify your repayments, and fund construction as it happens.
Planet-Wise™ teardown financing
Save money and limit the environmental impact on your teardown/rebuild or renovation project.
Tools to help you get on track.
Transfer your existing Mortgage from another financial institution to Vancity, with a Mortgage value amount of CA$250,000 or more with a five year fixed term or greater, Vancity will provide $750 that can be used toward closing costs, and cover up to a maximum of $250 towards appraisal services. The $750 is paid on the date the mortgage is funded; if the mortgage is not funded, no benefit will be paid. Mortgage approval is subject to standard Vancity lending criteria. The Laneway Homebuyers Bundle Offer may be changed or withdrawn at any time without notice. This Offer cannot be combined with any other offer unless otherwise specified.