According to the British Columbia “Mortgage Brokers Act,” the Registrar of Mortgage Brokers is solely responsible for overseeing all mortgage brokers. Additionally, the Registrar ensures that all B.C. brokers adhere to Act requirements including educational requirements. Therefore, all mortgage brokers within the province of British Columbia must meet standards set by the Registrar before acting as a mortgage broker. If you are considering obtaining a British Columbia mortgage, make sure that the broker you are dealing with is properly licensed.
Some consumers may qualify for special B.C. mortgage rates. The province of British Columbia offers unique mortgages for new immigrants, non-residents, those who have gone through bankruptcy, and those who are self-employed. Various individuals may also qualify for tax deductions related to B.C. mortgages. It is possible within the province of British Columbia to apply for a “no down payment” mortgage. Various banks throughout the province offer zero down mortgages, and these are excellent options for those who qualify for this type of mortgage. When searching for a trustworthy mortgage broker in British Columbia, look through the brokers listed on our site. The brokers and mortgage brokerage firms listed here are fully licensed as of our last update, but you may wish to check with the British Columbia Registrar of Mortgage Brokers to verify they have kept their licenses current. We also recommend contacting two or three different mortgage brokers and getting quotes, referrals and offers from each. |
