TOP 5-STAR RATED MORTGAGE BROKER IN VANCOUVER

Whether you’re buying your first house or looking to upgrade, the best mortgage services in Vancouver are available from red key mortgage

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or Call (778) 819-5390

23+

Years Of Experience

Working For You, Not The Lenders.

In Vancouver, get expert advice and rates that are ​unbeatable with our mortgage brokers

Red Key Mortgage is your best option for mortgage services ​in Vancouver. As the home of our head office, Vancouver has a ​special place in our hearts. Unlike big banks, our friendly ​highly-trained mortgage experts are available to serve you, ​not the lender.

WHY CHOOSE US

360° Mortgage in Vancouver

Comprehensive

No matter your mortgage needs—whether it’s ​your first home, next home, renewal, or refinance—our process ​is smooth and worry-free.

Quick Responses

Have a question? We’re on it. Need a pre-​approval fast? We’ll guide you through the details quickly, ensuring you have all the information for an informed decision.

Complex Solutions

We offer solutions for more complex ​mortgage details when big banks can’t help.

1.
Application

Complete application

2.
Agreement

We’ll send our service agreement. ​It doesn’t bind you to using us.

3.
Call

Within 24 hours we’ll call to review ​your full options

FAQ

frequently asked questions

Shop around for the best rates, by working with a mortgage broker; compare offers from multiple lenders, and be prepared to negotiate with your current lender for better terms. We’re always looking out for our clients, even if it means staying with your existing lender.

Yes, you can switch lenders during mortgage renewal to obtain better rates or terms. Some lenders and banks try to slip in a $250 convenience fee, but some mortgage brokers (like us), and banks will cover this cost. With us there are no fees for transferring your mortgage at maturity.

Lenders look for three criteria for borrowers trying to obtain a mortgage in Canada: 1) Income to debt ratios 2) Down payment 3) Credit. A good mortgage broker can obtain a mortgage when even two of the three criteria are average to above average.

There should be no fees to either renew or transfer your mortgage with us to another financial institution.

The stress test ensures you can afford payments at a higher interest rate, reducing the risk of default if rates rise. The stress test rate is the great of your rate +2% or the Bank of Canada benchmark rate + 2%.

The interest rate is determined by current market conditions, your repayment history, and the lender’s rates at the time. We recommend asking a broker to shop your mortgage to obtain the best rate and terms for your next mortgage.

Yes, you should always be able to renew your mortgage as long as you haven’t missed mortgage payment.

You’ll need identification, proof of income, recent pay stubs, and details about your current mortgage and property. In most cases, a transfer takes around two total hours of work, and the goal is to save you thousands compared to what your existing lender is offering.

Consider renewing your mortgage 4-6 months before the end of your current term to explore options and secure the best rate. Most lenders and banks hold a rate for 120 days.

Consider refinancing if you want to access equity, consolidate debt, or lower your payments by changing your amortization.

The minimum down payment is 5% for homes under $500,000. For homes over $500,000 but less than $1,000,000, the minimum down payment is 5% on the first $500,000 and 10% on the rest. For purchase prices $1,000,000 or over, the minimum down payment is at least 20%.

Mortgage rates vary by lender and market conditions. Generally, fixed rates are impacted by bonds and variable rates are influenced by the Bank of Canada.

Benefits of transferring include securing a lower interest rate, adjusting the term length, or accessing better terms based on your financial situation.

Mortgage insurance is not required at maturity.

At the end of your mortgage term, you’ll need to renew, refinance, or pay off the remaining balance to avoid default. Most Canadians either renew or transfer their mortgage for better mortgage rates.

If you miss the renewal deadline, your lender may automatically renew your mortgage at a higher interest rate or less favorable terms. Most lenders have an OPEN mortgage option that will allow you to extend the amount of time you can transfer to another lender without a payout penalty.

Yes, during renewal or transfer, you can change your mortgage terms, such as the interest rate, term length, or payment frequency. An amortization can rarely be changed at maturity without refinancing.

Yes, you can pay off your mortgage early, but you may incur prepayment penalties depending on your mortgage terms. Lenders vary on how they calculate this penalty. Learn more here.

Fixed rates remain constant throughout the term, while variable rates fluctuate based on the Bank of Canada Prime lending rate.

Email Us

vancouver@redkeymortgage.com

Address

#800- 525 West 8th Ave, Vancouver, BC, V5Z 1C6

Call us

(778) 819-5390

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