CO-OP Mortgages are different than a lease hold due to the fact you are buying shares in a company which owns the land and the building

CO-OP Pros

CO-OP are located in great locations, vastly cheaper than strata properties, with lower maintenance and taxes and significantly larger square footage. Usually no Property Purchase tax paid.

Equity Lenders Langley
Canadian CO-OP Mortgage Loans in BC Apply Here

Cons of Co-op

Mortgage Lenders are limited and will require a 35% down payment (HSBC, Prospero, Canadian Western Bank) it is best to consult a mortgage broker to package you application correctly for best results, and expect to pay ½-2% above posted rates. Generally it is safe to say: no children, limited (board approval) for pets, and no washer/dryers en suite (shared laundry), and no rentals, limited parking is available and participation required!!

The majority of co-ops are walk-ups (no elevator), and are of a wood frame construction. They will usually have no balconies. Should the co-op you choose to have a balcony, elevator, and view, these will be at the upper end of the scale.

Registered or Non-Registered Co-op

Registered means the title is registered with the province. Banks like these type of co-op buildings. Property Purchase tax will be paid.

Non-Registered: no Property Purchase tax, however, title must be shown from inception (not a big issue).

If you are looking for a mortgage on a Co-op please feel free to give us a call.

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Toll free 1-877-744-3436
Vancouver 778-839-3963
Okanagan 778-476-5500

Available 9 AM To 9 PM

7 Days a Week.

Leased land and Co-op mortgages service areas in British Columbia (BC) Canada’s Lower Mainland of: Surrey BC, Vancouver, Richmond, Burnaby BC, Abbotsford, Chilliwack, Coquitlam BC, Port Coquitlam, Pitt Meadows, Maple Ridge, West Vancouver, North Vancouver, Port Moody, New Westminster, Delta, Surrey, White Rock, Langley, Coquitlam, Mission, Or in the BC Okanagan Armstrong Chase, Penticton, Revelstoke, Kamloops, Kelowna, Merrit, Salmon Arm, Vernon, As well as on the Isalnd Victoria, Saanich, Esquimalt, Oak Bay, Colwood, Langford, Sooke, Campbell River, Chemainus, Comox, Courtenay, Cumberland, Duncan, Ladysmith, Lake Cowichan, Nanaimo, Parksville, Port Alberni, Qualicum, Sidney, Cranbrook, Kimberley, Nelson, Castelgar, Trail, Revelstoke.