Mortgage Broker Burnaby, BC
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Why Use a Mortgage Broker in Burnaby?
Access to 50+ Lenders
One application, dozens of offers — banks, credit unions, and monoline lenders you'd never find on your own.
Free Service
Brokers are paid by the lender when your mortgage closes. Expert advice at zero cost to you.
Better Rates Than Banks
Brokers negotiate volume discounts. Most clients save 0.1–0.5% vs going directly to their bank.
Local Market Expertise
Licensed brokers know your local market — prices, lender preferences, and programs specific to your province.
Submit Your Info
Answer a few questions about your home and finances. Takes under 2 minutes.
We Match You
We match you with licensed Burnaby brokers who specialize in your situation.
Brokers Compete
Multiple brokers present their best rates. You choose the offer that works — free.
The Burnaby Broker Advantage
Burnaby is a condo city, and condo financing is where lenders differ the most. Towers in Metrotown, Brentwood, Lougheed, and Edmonds each have their own strata profile — investor-to-owner ratios, rental restrictions, reserve funds, and in some cases warranty or deficiency claims. A lender that happily finances one building may decline the one across the street. A broker who checks building-level lender appetite before you firm up protects you from a failed subject-removal.
Presales are the second big issue. Much of Burnaby's new supply is sold two to four years before completion, and buyers need a plan for financing at occupancy: whether to use a developer-arranged rate hold, what happens if the appraisal on completion comes in below the contract price, and how to requalify if their income has changed. Brokers who work with Burnaby presale buyers deal with these completion-day risks routinely.
Burnaby's employment mix adds a third layer. Film and TV crew members at the city's studio complexes often earn strong but project-based income. SFU and BCIT staff may be on term contracts. Each is financeable with the right lender, and a broker compares Metro Vancouver credit unions — Vancity and G&F Financial Group among them — alongside the banks and monoline lenders to find the best fit.
What Burnaby Mortgage Brokers Save You
Real Savings Estimate
On a $788,800 Burnaby mortgage (80% of the ~$986K all-types average), a 0.15% lower rate (4.35% vs 4.50%, 25-year amortization) saves roughly $5,660 in interest over a 5-year term.
*Based on $1,050,000 home, 20% down, 25-year amortization. Approximate — actual savings depend on rates and mortgage terms.
Current Burnaby Mortgage Rates — Banks vs Brokers
| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 3.63% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.10% |
| HELOC | 5.15% |
*Based on $500K mortgage, 25-year amortization, Canadian semi-annual compounding.
Big Bank vs. Broker Rates
How posted bank rates compare to what a licensed Burnaby broker can negotiate for you.
| Lender | Type | 5-Yr Fixed | 3-Yr Fixed | 5-Yr Variable | Action |
|---|---|---|---|---|---|
RBC Royal Bank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
TD Bank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
BMO | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
CIBC | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
Scotiabank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
National Bank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
TOPTop Broker 🏆 | Broker | 4.89% | 4.74% | 3.63% | Get My Rate → |
Bank rates shown are posted rates sourced from Bank of Canada. Actual rates may vary. Broker rates reflect best available insured rates from 50+ lenders. Last updated: Oct 12, 2026.
The Burnaby Mortgage Market in 2026
Burnaby sits between Vancouver and the Tri-Cities, offering SkyTrain access, Simon Fraser University, and a mix of condos and detached homes.
Avg Home Price
$1,050,000
Market
Balanced MarketYear-Over-Year
-2.4%
Land Transfer Tax
Burnaby buyers pay BC's Property Transfer Tax. First-time buyers may be exempt on homes up to $500K.
Burnaby Market Context
Burnaby's all-types average near $986,000 means a typical 80% mortgage of about $789K, with roughly $17,700 in Property Transfer Tax at that price. Condos, the bulk of sales, trade in the $664K–$700K range, and homes are selling in about 31 days. With detached homes averaging around $1.95M, most first-time buyers are financing strata units — which makes building-by-building lender knowledge the most valuable thing a Burnaby broker brings.
How to Choose a Licensed Mortgage Broker in Burnaby
Before offering on a Metrotown, Brentwood, or Lougheed condo, ask your broker to confirm which lenders will finance that specific building — investor ratios and deficiency claims can knock out lenders you assumed were available.
Presale buyers should ask their broker to plan for completion now: what rate hold is available, how a low completion appraisal would be handled, and what documents you'll need to requalify at occupancy.
Film and TV crew members should bring two years of T4s and T4As (or T1 Generals) plus union dispatch records — lenders that average project-based income can approve files that a standard employment check would decline.
Ask your broker to include Vancity and G&F Financial Group in your rate comparison — Metro Vancouver credit unions sometimes have more flexibility on contract income and specific strata buildings.
Brokers in Burnaby must be licensed with BCFSA (BC Financial Services Authority) — verify any broker's licence on their registry before signing anything.
Frequently Asked Questions — Mortgage Brokers in Burnaby
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