Broker FAQ

Check out our lending guidelines* to see if your clients qualify. Got a great deal that doesn’t quite meet these guidelines? Email us at brokercentre@coastcapitalsavings.com.
No, at this time we are not offering any rate holds or pre-approvals.

We no longer require earthquake insurance, however, we will encourage members to have earthquake insurance for their own protection if they can afford it.

We do not require title insurance.

Heating costs for the applicant’s owner occupied principal residence must be serviced on ALL credit applications. Heating costs should be treated as a shelter cost (similar to property taxes) and included in GDS/TDS.

  • Apply a standard cost per month for each of the following property type:
    • Condo $75 (BC)
    • Townhouse $100 (BC)
    • Single Family Dwelling $125 (BC)
    • Stay tuned for more details for all other areas of Canada.
Coast Capital Savings has an established list of approved brokers. If you are a broker interested in offering Coast Capital Savings mortgage products please contact the Broker Centre at brokercentre@coastcapitalsavings.com.

Transmit your mortgage application to Coast Capital Savings via Expert using the appropriate submitting agent for your office.

Once you’ve received an approval, please email all requested supporting documentation to brokercentre@coastcapitalsavings.com or fax it to: 1-866-399-8080. Once all supporting documentation is reviewed and accepted, your client will be contacted by Coast Capital Savings staff to arrange a time to complete membership requirement, discuss payment arrangement and insurance needs.

We can consider up to 4 Rental Properties and 1 Residence per borrower/couple.

Residential mortgage applications with borrowers with more than 4 rental properties either financed by CCS or elsewhere shall be deemed commercial in nature and will be referred to our Business Banking Department for underwriting and subject to higher rates and fees.

  • All Fixed and Variable: The greater of the contract rate plus 2% OR the 5 year Bank of Canada Benchmark Rate
  • Existing HELOCs
    • Payment amount calculated on the outstanding balance amortized over 25 years
    • Use the greater of the contract rate +2% OR the 5 year Bank of Canada Benchmark Rate
    • Use the 5 year Bank of Canada Benchmark Rate if contract rate is unknown
  • New HELOCs
    • The greater of the contract rate +2% OR the 5 year Bank of Canada Benchmark Rate
No, all mortgage loans must be in first position unless Coast Capital Savings is the prior charge.

We can consider as long as the client has been discharged for 2 years and has re-established credit.

Re-established Credit = 3 trade lines or >$5,000 total limit on 1 or more trade lines.

We can consider as long as it is a hobby farm. We can also consider ALR zoning.

  • 75% of the first $1,000,000 of the house and 1st 5 acres, 50% of the balance (excluding outbuildings)
    • HELOC portion maximum 65% of the first $1,000,000 of the house and 1st 5 acres, 50% of the balance (excluding outbuildings)
We don’t do straight switches and transfers as a new mortgage must be registered according to our terms and conditions so there will be legal fees that your client will need to pay.

For an unsecured LOC, the payment is calculated using 3% of the balance

Existing HELOCS:

  • Payment amount calculated on the outstanding balance amortized over 25 years
  • Use the greater of the contract rate +2% OR the 5 year Bank of Canada Benchmark Rate
  • Use the 5 year Bank of Canada Benchmark Rate if contract rate is unknown

New HELOCs:

  • The greater of the contract rate +2% OR the 5 year Bank of Canada Benchmark Rate

Yes we can consider. The mortgage must be insured and there is also a 1% rate premium.

We will also require the following documents:

  • Copy of written certification by an individual or corporation certified by the Canadian Registration Board of Occupational Hygienists or the American Board of Industrial Hygiene that the building is substantially free of any Pesticides, fertilizers and any toxic chemicals, moulds or fungi.
  • Occupancy permits or a Comfort Letter issued by the city

Sorry this is not something we offer through our Broker Channel

Yes we can consider as long as the home is permanently affixed to the borrowers own land.

  • There is a min .50 rate premium
  • Max LTV 80% of the first 1M and 65% on the balance
  • Maximum amortization is 25 years

Yes we can consider but there will be a rate premium.

  • Max LTV 75% of the first 1M and 65% on the balance
  • Must have all essential services are in place (hydro, water, and sewer or septic).
If a borrower is living with relatives (whether or not paying room and board) use a minimum amount of $600 for shelter costs for calculating their GDS. Minimum shelter payment for spousal relationships is based on per person, not per couple.
When the actual property tax amount is unknown, the default value that will be used is .5% of the value of the property located in BC.
* Guidelines are subject to change without notice
Contact us.
For more information, email our Broker Centre.
Toll-free fax: 1.866.399.8080