Best Private Mortgage Rates in BC
July 18, 2026 | Posted by: Alex Vinarski
Best Private Mortgage Rates in BC – July 2026
If you're searching for the best private mortgage rates in Vancouver or anywhere in British Columbia, it's important to understand that not all 'private' mortgages are actually private.
Many advertisements use the term private mortgage, but some of the lowest rates are actually offered by B lenders, not individual private lenders. The qualification requirements can be very different.
Option 1: B Lender – Rates Starting at 4.49%
The lowest rates currently available start at 4.49%, but these are offered by a B lender, not a private lender.
Although qualification is more flexible than with major banks, borrowers are still required to verify their income using documents such as:
- Business bank statements
- Personal bank statements
- Other acceptable proof of income
This can be an excellent option for self-employed borrowers who have difficulty qualifying with a traditional bank but can still demonstrate their income.
Option 2: True Private Mortgages (No Income Verification)
For borrowers who cannot verify their income, private lenders remain an excellent solution.
Current rates for qualified borrowers are:
| Loan-to-Value | Interest Rate |
|---|---|
| Up to 50% LTV | 5.25% |
| Up to 60% LTV | 5.49% |
| Up to 65% LTV | 5.75% |
- Lender Fee: 1%
- Renewal Fee: 1%
These mortgages are ideal for business owners, investors, commission-based borrowers, or anyone whose taxable income does not reflect their actual cash flow.
Option 3: Another Competitive Private Lender
Another excellent lending option currently offers:
| Loan-to-Value | Interest Rate |
| Up to 50% LTV | 5.80% |
| Up to 60% LTV | 5.90% |
| Up to 65% LTV | 5.99% |
- Lender Fee: 1%
- Renewal Fee: $300
Although the interest rate is slightly higher, the low renewal fee can make this lender a better long-term choice for borrowers planning to keep their mortgage for several years.
Best Second Mortgage Rates
If you're looking to access your home equity without refinancing your first mortgage, here are some of today's best second mortgage options.
Option 1
- Rate: 9.25%
- Up to 75% Loan-to-Value
- Open Mortgage: 1% lender fee
- Closed Mortgage: $750 lender fee
- Renewal Fee: $300
Option 2
| Loan-to-Value | Interest Rate |
| Up to 50% LTV | 8.95% |
| Up to 65% LTV | 9.95% |
| Up to 75% LTV | 10.95% |
- Lender Fee: 2%
- Renewal Fee: 0.25%
Option 3
| Loan-to-Value | Interest Rate |
| Up to 50% LTV | 7.99% |
| Up to 60% LTV | 8.39% |
| Up to 65% LTV | 8.79% |
- Lender Fee: 2%
- Renewal Fee: $500
Who Qualifies for the Lowest Rates?
The best private mortgage rates are generally available to borrowers who have:
- Good credit
- Strong home equity
- A clean property
- Straightforward financing needs
Borrowers with bruised credit, recent collections, tax arrears, consumer proposals, or more complex situations can still qualify for private financing, although rates and fees may be slightly higher.
Which Private Mortgage Is Right for You?
The lowest interest rate isn't always the least expensive mortgage. Renewal fees, lender fees, prepayment flexibility, and the length of time you expect to keep the mortgage all play an important role in determining the overall cost.
As an independent mortgage broker specializing in private mortgages throughout British Columbia, I compare multiple private lenders to find the best overall solution for each client's situation.
If you're looking for the best private mortgage rates in Vancouver or anywhere in BC, me for a no-obligation review of your options. More inforamtion on private mortggaes here:
https://www.ipotekacanada.com/index.php/private-mortgages
Disclaimer: Rates shown are current as of July 2026 and are subject to change without notice. Final approval depends on the borrower's credit profile, loan-to-value ratio, property, and lender guidelines.
