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Mortgages built for your needs.

We can help you choose the right financing option for your building or renovation project.

Construction mortgage

Laneway house mortgage

Planet-Wise teardown financing

Laneway house mortgage

Community starts in your backyard.

When you build a laneway home, you’re adding housing to an established neighbourhood, enhancing and diversifying your community, and increasing the value of your property.

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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 and the potential to earn up to 1% cash back.*

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.

Cash back* when you transfer an existing mortgage to Vancity

Move your mortgage to Vancity from another financial institution, and we’ll give you up to 1% of the mortgage principal as cash back.*

Choose your rates, term and amortization

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.

1

You are at least 19 years old.

2

You live in British Columbia and have a BC address.

3

The home you’re looking to purchase or build is in British Columbia.

4

You pass the stress test.

The stress test is a formula set by the Federal Government to ensure you’ll be able to afford your mortgage. To pass the stress test, you'll need to qualify at the greater of the contractual mortgage rate plus 2%, or the OSFI Minimum Qualifying Rate (5.25%, as of December 15, 2022).

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Find a specialist near you

Interested in a new mortgage or refinancing? Browse our mortgage specialists to connect with someone in your area.

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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.

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Explore other mortgage types.

Construction mortgage

Streamline your build’s planning process and simplify your repayments. and fund construction as it happens.

Learn more

Planet-Wise™ teardown financing

If you’re tearing down a home to build a new one, or undertaking a renovation, this loan can help you save money and limit the environmental impact.

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See all mortgages

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The affordability equation
5 min read

Your mortgage application checklist.

How to apply

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* 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, you may receive a cash back bonus of to 1% of the mortgage principal. Vancity will also cover up to a maximum of $250 towards appraisal services. 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. 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.

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Vancity is proud to operate on the traditional territories of the Coast Salish and Kwakwaka’wakw peoples, and we are committed to Reconciliation as a core value.

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