Metro Vancouver — island-flat, transit-rich, and a primary Mandarin- and Cantonese-speaking buyer market. Heavy condo + investor activity. The benchmark detached home price here is $1,911,700, which puts the legal minimum down payment at $382,340 (20% — this price band cannot be insured) and the household income you would need to qualify after the stress test at roughly $345,000. We shop that file across 100+ lenders, and Maya answers in 50+ languages while you wait.
We arrange mortgages for buyers and homeowners in every Richmond neighbourhood. Licensed office: 310-3100 Steeles Ave W, Vaughan, ON. Mon–Fri 9–5 ET; Maya answers 24/7.
Reviewed by Surrayya Afzal, Principal Broker · FSRA #M14001433 · Brokerage FSRA #13737 · Richmond market data last sourced July 2026
Two things shape almost every Richmond file. The Property Transfer Tax is charged on a rising scale — 1% on the first $200,000, 2% to $2 million and 3% above that — so it is a far larger closing cost than most buyers arriving from elsewhere expect. And with a benchmark around $1,911,700, a large share of purchases sit above the $1.5 million ceiling where mortgage default insurance is simply unavailable.
Richmond detached MLS HPI benchmark, Greater Vancouver REALTORS — last sourced July 2026
Population
~210k
Latest census + StatCan
Lender network
100+ lenders
A · B · monoline · private
Languages
12+
Punjabi, Mandarin, Arabic, French + more
Richmond snapshot · 2026
What you’d need to buy in Richmond.
At Richmond’s ~$1,911,700 benchmark detached home price, here’s the down payment by scenario. Maya models your exact file — including British Columbia land-transfer tax and CMHC premium — in seconds.
Minimum down — 20%
$382,340
Homes over $1.5M cannot be insured, so 20% is the legal minimum here.
25% down
$477,925
Stronger file; sharper pricing and wider lender choice.
At 20% down (~$382,340) and a representative 5.04% 5-year fixed, a typical Richmond home (~$1,911,700) runs about $8,930/month in principal & interest over 25 years — roughly $345,000 in household income to qualify after the stress test.
Illustrative, based on Richmond’s published benchmark detached home price; your price band and program may differ. Run your affordability →
Programs in Richmond
Richmond mortgage brokers & agents for every situation
First home, renewal, refinance, investor portfolio — we have a path. One licensed brokerage, one 100+ lender network, one dedicated advisor on your file, arranging British Columbia financing under BCFSA requirements.
We help Richmond buyers from start to finish. On a BC purchase the professionals who have to be local are the appraiser and the notary or lawyer handling your conveyance, and both are appointed on your file whoever arranges the mortgage. What we do is get the strata documents and the lender list right before your subjects come off, and Surrayya reviews the file that goes out.
Richmond isn’t one mortgage market. The dominant property form in each pocket decides how your file is underwritten and where it can go wrong — so here is what each one means for financing, rather than a list of names. This is general guidance by property form; your exact price band, lender fit and program are confirmed on your file.
Richmond neighbourhoods by dominant property form and the financing consideration each one triggers.
Neighbourhood
Typical property form
What it means for your financing
Steveston
Village detached and newer townhouse, dyke-adjacent
Low-lying, dyke-protected land throughout: flood mapping is a live question for both the appraisal and the property-insurance binder, and it is not a formality here.
Brighouse
High-rise condo
Dense tower stock where the depreciation report, contingency reserve and rental share do much of the underwriting. Very small units narrow the lender panel on their own.
City Centre
Newer high-rise condo
Recent towers with high amenity costs, and some still inside builder warranty. Strata fees count in full against your debt-service ratios, which at these fee levels is material.
Hamilton
Newer detached and townhouse subdivision
One of the more attainable pockets in the city, with recent stock and clean comparables — and, being low-lying, the same flood-mapping question as the rest of Richmond.
Thompson
Established detached on larger lots
Detached values above the $1.5M ceiling on much of the stock, making 20% down a legal minimum, with heavy rebuild activity leaving uneven comparables.
Terra Nova
1990s executive detached near the dyke
Upper-band newer detached in the northwest corner: conventional financing at these values, plus the dyke-adjacent flood question that runs across the municipality.
Seafair
1960s–70s detached, mature lots
Older large-lot stock with long owner tenure and significant rebuild interest — a teardown purchase is a construction file, not a standard one.
Grounded in the underwriting rules on this page — the condo status-certificate review, the $1.5M mortgage-insurance ceiling, freehold appraisal risk, rental-suite income add-back and private servicing. We don’t publish per-neighbourhood price bands or lender names; Get your file assessed for the specifics.
Buying or refinancing just outside Richmond? We broker across the whole region — borrowers here most often cross-shop mortgage options in Vancouver and Burnaby, where home prices and lender appetite differ enough to change the file.
In British Columbia we shop the Big-6 banks and national monolines alongside regional lenders like Vancity, Coast Capital, BlueShore Financial and more — several of which qualify on the contract rate rather than the stress-test rate, which can be the difference on a tight Richmond file.
Vancity Coast Capital BlueShore Financial Prospera
Worked example · Steveston
Priced end to end: a Richmond freehold purchase
5 of the 7 Richmond pockets described above are freehold, so this models a detached or semi purchase in Steveston, where the stock is village detached and newer townhouse, dyke-adjacent. On a freehold file the appraisal carries the risk your income does not — and in a competitive market the pressure to waive the financing condition moves that risk from the lender onto you. At Richmond's $1,911,700 benchmark the purchase sits above the $1.5 million ceiling, where mortgage default insurance is unavailable at any price. Twenty per cent down is the legal floor here, not an upgrade you choose.
A worked Richmond purchase at the local benchmark detached home price — down payment, mortgage, payment, qualifying income and land transfer tax. Illustrative arithmetic, not a client file.
Purchase priceRichmond benchmark, Greater Vancouver REALTORS
$1,911,700
Down payment — the legal minimum20% — this price band cannot be default-insured, so there is no lower option
$382,340
Mortgage amountPurchase price less the down payment
$1,529,360
Monthly payment4.14% 5-year fixed over 25 years — today's sharpest rate on our board
$8,161
What a lender qualifies you onThe stress test prices the same mortgage at 6.14% — the greater of your rate plus 2% or 5.25%
$9,913
Household income neededHolding the stress-tested payment plus property tax and heat under a 39% gross debt-service ratio
$319,000
Land transfer taxPayable in cash at closing
$36,234
Cash needed at closingDown payment plus land transfer tax, before legal fees, title insurance, inspection and appraisal
$418,574+
What usually complicates this file in Steveston: Low-lying, dyke-protected land throughout: flood mapping is a live question for both the appraisal and the property-insurance binder, and it is not a formality here.
Illustrative arithmetic on Richmond’s published benchmark detached home price — not a client file, and not a quote. Every figure is computed by the same functions that drive our calculators, so your own numbers replace these exactly. Get your real figures or run them yourself.
Richmond mortgage guide
Buying or financing a home in Richmond.
The Richmond mortgage market in 2026
As of 2026, the benchmark detached home price in Richmond is roughly $1,911,700 (British Columbia, population ~210k). Richmond is island-flat, transit-rich Metro Vancouver and a primary Mandarin- and Cantonese-speaking buyer market, so multilingual service is essential. Heavy condo and investor activity around City Centre and Brighouse defines much of the financing here. At that price, 20% down is about $382,340, and you’d need roughly $345,000 in household income to qualify at the stress-test rate of 7.04% — the greater of your contract rate + 2% or 5.25%. Homes at this price cannot be default-insured, so 20% — about $382,340 — is the legal minimum down, not an upgrade option. We model your exact Richmond numbers — price band, down payment, and the stress test — before you ever write an offer.
What it really costs to buy in Richmond
Your down payment is only part of the cash you need to close. Budget the full stack: the down payment ($382,340 minimum — this price band cannot be insured), BC Property Transfer Tax (1% on the first $200,000, 2% to $2M, 3% above), and closing costs — legal fees, title insurance, inspection, and appraisal — of roughly 1.5–4% of the price. First-time buyers may qualify for a full or partial Property Transfer Tax exemption under the program thresholds. We give you the exact cash-to-close for your Richmond purchase up front, so nothing is a surprise at the lawyer’s office.
Who we help in Richmond
Buyers on conventional files above the insured ceiling, where lender appetite for the loan amount and the read on the appraisal matter more than the posted rate. Strata purchasers, where the depreciation report and the corporation's contingency reserve are underwritten alongside you and can stop a file outright. Self-employed borrowers, newcomers, investors, owners drawing on a HELOC or a consolidation refinance, and first-time buyers using the PTT exemption where the price band still allows it.
Why a local Richmond broker beats the bank branch
Strata is where a branch's single policy costs the most. A depreciation report showing a large upcoming expense, a low contingency reserve, or a building with rental or age restrictions each shortens the lender list before your income is read — and leasehold land, common in parts of the province, removes most of the panel on its own. We know which of our 100+ lenders stay on the file, and above the insured ceiling we know which want the loan size at all.
Broker vs bank
Richmond mortgage broker vs your bank branch
A branch is one lender with one credit policy. A brokerage puts the same file in front of many. Here is the difference row by row — and underneath, what a rate gap is worth on a Richmond-sized mortgage.
Working with a Richmond mortgage broker compared with going directly to a bank branch.
What differs
Mortgage Squad (Richmond)
A single bank branch
Lenders your file is shown to
100+ — big banks, monolines, credit unions, B-lenders and private, including regional British Columbia lenders like Vancity and Coast Capital
One — the bank you walked into, on its own products and its own credit policy
If that lender declines
The file moves to the next lender on the panel without starting over — and there is a B and private tier behind the A tier
The application ends there; you begin again somewhere else, with a second credit inquiry
Who pays for the advice
On prime (A-lender) mortgages the lender compensates the brokerage on funding — no direct borrower-paid fee. B and private files can carry a fee, disclosed in writing in advance
Built into the branch's pricing; the discount off posted is whatever you negotiate
Rate you're quoted
The lowest placeable rate on the panel for your file — today that's 4.14% on a 5-year fixed, updated daily
That bank's own sheet, discounted off its posted rate on request
Local property types
We place Richmond files weekly and know which lenders are comfortable with GVA's property forms
One credit policy applied nationally, whatever the local stock looks like
Prepayment penalty math
We compare the penalty terms, not just the rate — several lenders calculate the interest rate differential far more fairly than the posted-rate method
Many big banks compute the IRD from inflated posted rates, which can multiply the cost of breaking early
Strata documents
We read the depreciation report, the contingency reserve and the minutes before your subject-removal date, because they decide the lender list as much as your income does
Usually reviewed once the file reaches an underwriter — which can be after your subjects are already removed
What a rate gap costs in Richmond
On a $1,529,360 mortgage — 20% down against Richmond’s ~$1,911,700 benchmark detached home price — over a 25-year amortization and a 5-year term. The first row is today’s lowest 5-year fixed on our 100+ lender network; the next two show the same mortgage a quarter and a half point higher.
Monthly payment and five-year cost of a $1,529,360 Richmond mortgage at three rates.
5-year fixed rate
Monthly payment
Owing at renewal
Cost of the 5-year term
4.14%our best today
$8,161
$1,334,596
$294,910
4.39%+0.25%
$8,371
$1,340,266
$313,185
4.64%+0.50%
$8,584
$1,345,816
$331,498
“Cost of the term” is everything paid over the 60 payments less the principal actually retired, so a higher payment isn’t credited as a saving. On this mortgage, half a point is $36,588 over one term. Illustrative arithmetic at the stated rates, not a quote — your rate depends on your file, and every figure here recomputes daily from our live board. See all Richmond rates →
Why us in Richmond
What to look for in a Richmond mortgage broker
Our advisors know which lenders price aggressively in Richmond, which ones flex on GVA property types, and which programs match the buyer profile here.
FSRA Licensed #13737 · MBLAA · FINTRAC-reporting
Dedicated licensed advisor
Maya AI for instant answers, 24/7
Rate Beat Guarantee — beat any Big 6 offer or $500 (yours, or to your favourite charity)
Verified Google reviews from clients across Canada.
Why a local broker
5 reasons to choose a local mortgage broker in Richmond
If you’re buying, renewing, or refinancing in Richmond, here’s why working with a local broker beats your bank’s first offer.
1
Strata documents read before they cost you the deal
In Richmond the depreciation report and contingency reserve can end an approval that your income would carry easily. We read them with the lender panel in mind rather than discovering the problem at the subject-removal date.
2
100+ lenders, not one bank's posted rate
Banks quote their own rate. We put your Richmond file in front of 100+ lenders — big banks, monolines, credit unions, and private — and bring back the sharpest offer for your situation. Worth knowing what that is worth here: on the $1,529,360 a Richmond purchase at the local benchmark implies, half a point costs $36,588 over a single five-year term.
3
The full solution set under one roof
Purchase, renewal, refinance, HELOC, self-employed, new-to-Canada, and private lending — so whatever your Richmond situation, there's a path without starting over somewhere else.
4
Answers 24/7 in 50+ languages
Maya, our AI mortgage advisor, answers instantly any time — and a licensed BCFSA advisor takes over the moment your file gets real. Your Richmond file is closed by a real estate lawyer, and we work to their timeline as well as the lender's.
5
Pre-approval in 24 hours, every pocket of the city
From Steveston, Brighouse, City Centre and beyond, we move fast — most Richmond pre-approvals are back within 24 hours, with no credit-bureau pull to start.
Frequently asked questions — Richmond
Don’t see yours? Ask Maya — instant answer in 50+ languages.
How do I choose the best mortgage broker in Richmond?
Compare six things. Licensing — every brokerage and agent is on a public register (BCFSA in British Columbia), so verify rather than take a badge on a website at face value. Lender access — how many lenders can they actually place with, and does that include B and private lenders if your file needs one? Reviews you can check at the source, not screenshots. Rate options — will they show you fixed and variable, and explain the trade-off rather than steer you? Communication — who answers when something goes wrong two days before closing? And local experience — someone who works Richmond files knows which lenders price this market's property types well. A broker who won't answer those plainly has told you something. Ask when they read the strata documents. A depreciation report showing a large upcoming expense, a low contingency reserve, or a building with rental or age restrictions each shortens the lender list before your income is read.
Is it better to use a mortgage broker or a bank in Richmond?
It depends on your profile, and any broker who says otherwise is selling. A bank can only offer you its own products and its own read of your file — which is genuinely fine if you're a straightforward salaried applicant with strong credit and your bank is competitive that week. A broker compares multiple lenders, which matters most when your file has an edge to it: self-employed income, newcomer credit, a bruised score, a condo the bank doesn't like, or a tight closing. We shop 100+ lenders for Richmond clients and we'll tell you when your own bank's offer is already the best one on the table. See bank vs mortgage broker for the honest comparison.
How much does a mortgage broker cost in Richmond?
It depends on the lender and the product type. On most prime (A-lender) mortgages there is no direct borrower-paid broker fee — the lender compensates the brokerage on funding, which is why the service is typically free to you on a standard purchase, renewal or refinance. On a typical Richmond file — $1,529,360 borrowed against the ~$1,911,700 local benchmark at 20% down — that means the entire cost of the advice sits on the lender's side of the ledger, not yours. Where a fee can apply is alternative lending: B-lender and private mortgage files often carry a brokerage and/or lender fee, because those deals take more work and the lender doesn't pay the same way. Anyone quoting you a fee before they've seen your file is guessing. Ours is disclosed in writing, in advance, every time — no fee should ever be a surprise at the lawyer's office.
Are you a mortgage broker or a mortgage agent in Richmond?
Both terms apply. Mortgage Squad Advisors is an FSRA-licensed Ontario brokerage (#13737), and your file is handled by a licensed mortgage agent on our team. British Columbia brokering is overseen by the BCFSA (BC Financial Services Authority), and we arrange British Columbia financing in compliance with its requirements — directly or through licensed partner brokers where provincial registration requires it. Whether you searched "mortgage broker Richmond" or "mortgage agent Richmond", you've reached the same place — an advisor with access to 100+ lenders. New to brokers? See what a mortgage broker is and how they're paid.
Is there a mortgage broker near me in Richmond?
Yes. We arrange mortgages across every Richmond pocket — Steveston, Brighouse, City Centre, Hamilton and the rest — from our licensed office at 310-3100 Steeles Ave W in Vaughan.The neighbourhood table above sets out what the dominant property form in each pocket means for your financing. You get a named, licensed advisor plus Maya for instant answers 24/7.
What are average closing costs in Richmond?
Budget roughly 1.5% to 4% of the purchase price, on top of your down payment and payable in cash at closing. The stack is the same everywhere; the sizes differ. You pay BC Property Transfer Tax (1% on the first $200,000, 2% to $2M, 3% above). Legal fees, title insurance, a home inspection and an appraisal make up most of the rest, plus adjustments reimbursing the seller for prepaid property tax and utilities. First-time buyers may qualify for a full or partial Property Transfer Tax exemption under the program thresholds. New-build purchases add builder adjustments — development levies, utility connections and enrolment fees — that are billed at final closing and aren't always capped in the agreement. We give you the exact cash-to-close for your Richmond file before you write an offer, and you can model the tax yourself with our land transfer tax calculator and closing costs calculator.
Which neighbourhoods have the best value in Richmond?
We don't publish per-neighbourhood price rankings, and you should be sceptical of any broker who does — a "best value" list is an opinion dressed as data, and prices at that granularity move faster than a web page. What we can tell you is the part that actually changes your mortgage: the dominant property form in a pocket decides how your file is underwritten. Condo-heavy areas mean the corporation is assessed alongside you — a review of the strata's Form B information certificate and depreciation report can surface reserve-fund or special-assessment problems that stall an approval regardless of your income. Freehold pockets shift the risk to the appraisal, especially if you waive a financing condition to win. And areas whose typical price clears $1.5 million can't be default-insured at all, which makes 20% down the legal minimum rather than a choice. The table on this page maps each Richmond pocket to the consideration its property form triggers. Tell us the neighbourhoods you're weighing and we'll price the financing for each against your actual file. In a strata building the financing question is the building's own paperwork rather than the neighbourhood: the reserve, the depreciation report, and any rental or age restriction.
What's the minimum down payment for a home in Richmond?
At Richmond's ~$1,911,700 benchmark price, 20% — about $382,340 — is the legal minimum, not an upgrade. Mortgage default insurance from CMHC, Sagen and Canada Guaranty is unavailable on purchases over $1.5 million, so there is no product that lets you put down less at this price band, and the 30-year insured amortization available to first-time buyers doesn't apply either. Below the $1.5M line the tiered minimum (5% on the first $500,000 plus 10% on the balance) returns. Run your own price band →
How much income do I need to buy a home in Richmond?
At Richmond's ~$1,911,700 benchmark price with 20% down at a representative 5.04% 5-year fixed, you'd need roughly $345,000 in household income to qualify after the stress test — less with a co-applicant or a larger down payment, more if you carry other debt. We'll model your exact file in minutes.
How do lenders decide how much mortgage I qualify for in Richmond?
Lenders run two debt-service ratios. Your GDS ratio (Gross Debt Service) — housing costs (mortgage payment, property tax, heat, plus half of any condo fees) measured against gross income — generally has to stay under about 39%, and your TDS ratio (Total Debt Service), which adds car loans, credit cards and other debt, under about 44%. Both are tested at the stress-test rate: the greater of your contract rate plus 2% or 5.25%. On a Richmond purchase at the ~$1,911,700 benchmark with 20% down, that means a lender qualifies you on a payment of about $10,750 a month rather than the $8,930 you would actually pay at a representative 5.04% — which is why the household income the test demands lands near $345,000. Pay down other debt or add a co-applicant and that budget rises. Our GDS & TDS guide and stress test guide show the full math, or run your numbers and have Maya model it in minutes.
Should I choose a fixed-rate or variable-rate mortgage in Richmond?
It depends on your risk tolerance and rate outlook, and anyone who answers it without seeing your file is guessing. A fixed-rate mortgage locks your rate and payment for the whole term — predictable, and the popular choice when rates are uncertain. A variable-rate mortgage moves with the lender's prime rate (which tracks the Bank of Canada policy rate); it often starts lower and can save money if rates fall, but your payment or amortization shifts if they rise. Here is what the spread is worth on a Richmond-sized mortgage: on $1,529,360 over a five-year term, half a point costs $36,588 more in interest and lost principal than the sharpest rate on our board today. That is the number the fixed-versus-variable argument is actually about. Terms run 1, 2, 3 and 5 years. See our fixed vs variable and 3- vs 5-year term breakdowns, and we'll compare both on your real numbers.
What credit score do I need for a mortgage in Richmond?
For the best A-lender rates, most lenders look for a credit score of about 680 or higher. Scores in the 600s can still qualify, often at a slightly higher rate or with more down payment. Below the low 600s, B-lenders and private lenders take over — many work with scores down to roughly 500 on an equity-based approval, with a plan to move you back to A-pricing in 12–24 months. What that costs in Richmond specifically: a B-lender file is typically capped at 80% of value, so on the ~$1,911,700 local benchmark you would need about $382,340 down rather than the $382,340 an insured A-lender file allows — though at this price band 20% is the legal minimum in any case. The gap between those two numbers is the real price of a bruised score here. Our credit score guide explains the bands, and we'll tell you exactly where your Richmond file stands. A building with restrictions or a thin reserve can move a file off the A tier regardless of how strong the borrower's score is.
What's the typical home price in Richmond?
The benchmark detached home price in Richmond is approximately $1,911,700 — Richmond detached MLS HPI benchmark, Greater Vancouver REALTORS, last sourced July 2026. A median is not an average: it is the middle transaction, so half of everything that sold went for less. It is also published per property form rather than across the whole market — the condominium and plex medians behind this one sit well apart from it, and the table on this page shows all of them. What the median IS good for is the arithmetic on this page — the $382,340 minimum down payment and the ~$345,000 qualifying income are both computed from it. We model your file at the price band you are actually shopping.
What documents do I need for a mortgage in Richmond?
Standard Canadian mortgage documents: two pieces of government photo ID, two years of T4s and Notices of Assessment, recent pay stubs, 90-day proof of down-payment funds, and your purchase agreement once you have one. At this price band the down payment is large enough that the 90-day source-of-funds trace is the item that most often delays a file — every dollar has to be traced, and a recent deposit needs a paper trail or a gift letter. Self-employed, newcomer and rental-income files each add their own list. We send you a precise one after a five-minute intake rather than a generic checklist. A strata purchase adds the depreciation report, the contingency-reserve statement, the minutes and the bylaws — and leasehold land adds the head lease and its remaining term.
Do you work with first-time buyers in Richmond?
Yes — they are a core part of our practice. We help you stack the programs: the FHSA (up to $40,000 lifetime contribution room, tax-deductible), the RRSP Home Buyers' Plan with its 15-year repayment, first-time-buyer land transfer tax rebates where British Columbia offers them, and insured paths below 20% down. Under the 2024 rules, 30-year amortization is available to first-time buyers and on new-build purchases, which lowers the payment your stress test is applied to. One caveat specific to Richmond: at a ~$1,911,700 benchmark, most homes here sit above the $1.5M insurance ceiling, so the 5%-down and 30-year-insured routes are closed and $382,340 is the legal floor. The FHSA and HBP still help; they just have further to reach. We run a stress-test simulation before you write any offer.
Who regulates mortgage brokers in British Columbia?
Mortgage brokering in British Columbia is regulated by the BCFSA (BC Financial Services Authority). Mortgage Squad Advisors is a licensed brokerage (FSRA #13737, Ontario head office) and arranges British Columbia financing in compliance with the BCFSA requirements — directly or through licensed partner brokers where provincial registration requires it. All advisors are FINTRAC-trained.
How long does pre-approval take in Richmond?
Most clients have a written pre-approval within 24 to 72 hours of sending documents. Maya gives you ballpark numbers in 60 seconds; the formal pre-approval needs a credit pull and an underwriting review. We would rather you went in pre-approved and kept the condition.
Do you handle complex files like self-employed or new-to-Canada in Richmond?
Yes — they are most of what a broker is for. Richmond is island-flat, transit-rich Metro Vancouver and a primary Mandarin- and Cantonese-speaking buyer market, so multilingual service is essential. Heavy condo and investor activity around City Centre and Brighouse defines much of the financing here. Self-employed, newcomer, multi-unit, alt-A and private files are all in our daily flow, and each one is a lender-selection problem before it is a rate problem: the spread between the lender who reads your income most accurately and the one who reads it most conservatively is far wider than the spread between their posted rates. We pair you with an advisor who works your file type. Leasehold land is common in parts of the province and is financed by a shorter list of lenders, priced on the remaining term.
What rates can I get in Richmond today?
The sharpest 5-year fixed across our network today is approximately 4.14%, with variable around 3.44%. Rates do not vary by city — the same lenders price the same products across British Columbia — so treat any "Richmond rate" as our network rate applied to your file. What IS local is the size of the mortgage it sits on: on $1,529,360, which is 80% of the ~$1,911,700 local benchmark, each quarter-point is real money over a five-year term. See the rate-gap table on this page for the exact figure. Your own rate depends on income, credit, loan-to-value and property type. Our live Richmond rate board has the full ladder.
Our clients, in their words
Files from across our book, each labelled with the city it actually closed in — we don’t re-tag a quote to Richmond, or to British Columbia, to make a page look more local than it is. Names and identifying details are anonymised; the outcomes and figures are real. Read our verified Google reviews →
“My current bank wanted to charge an $11,800 IRD penalty to break my mortgage. Mortgage Squad Advisors ran the exact calculation and confirmed it was correct under TD's posted-rate IRD formula. They then found a refi at a monoline where the net-of-penalty math still saved us $14K over the new 5-yr term. We did the deal.”
— Wendy L., Vancouver, BC · 2025
Penalty modeled exactly · $14K net savings
“We moved to Canada 14 months ago and didn't know how the mortgage system worked at all. Mortgage Squad Advisors explained everything in Punjabi, helped us understand FHSA, RRSP HBP, the stress test — all of it. They got us into our first Canadian home with 5% down. They felt like family.”
— Gurpreet & Mandeep S., Surrey, BC · 2025
PR · 5% down · 14 months in Canada
“12-unit purpose-built rental. The team optimized the CMHC MLI Select point stack across energy + affordability + accessibility, unlocking 90% LTV and 45-year amortization. Rate came in 130 bps below comparable uninsured commercial. Game-changing math.”
