Coast Capital
Is Part of RateShop Mortgage's Trusted Canadian Lender Network
Coast Capital: Trusted Mortgage Partner with RateShop Mortgages
History as a Mortgage Lender in Canada
Coast Capital Savings is one of Canada’s largest credit unions, founded in 1940 in British Columbia. With over 50 branches and more than 500,000 members, Coast Capital transitioned to a federal credit union in 2019, expanding its services nationwide. Recognized for its community involvement and innovative financial solutions, it provides a wide range of mortgage products tailored for Canadians.
Types of Mortgage Products & Programs
Coast Capital offers diverse mortgage options for both residential and commercial borrowers:
Residential Mortgages:
Fixed-Rate Mortgages: Terms from 1 to 10 years, offering stability with consistent payments.
Variable-Rate Mortgages: Flexible interest rates tied to the prime lending rate.
High-Ratio Mortgages: Ideal for first-time buyers with a minimum 5% down payment.
Home Equity Lines of Credit (HELOC): Access funds up to 80% of your home’s value.
Refinancing Options: Tailored to consolidate debt or fund home improvements.
Commercial Mortgages:
Custom solutions for small businesses, real estate investors, and developers.
Minimum Credit & Income Requirements
Coast Capital aims to assist various borrower profiles:
Minimum Credit Score: Typically 600, but flexible for non-traditional borrowers.
Income Requirements:
Salaried Employees: Recent pay stubs and T4 slips.
Self-Employed Individuals: Bank statements and two years of Notice of Assessments.
Contract Employees: Proof of consistent contract income.
First-Time Home Buyers: Special programs with reduced requirements and incentives.
Mortgage Underwriting Criteria for Approval
Approval focuses on:
Debt-to-Income (DTI) Ratio: Generally up to 44%.
Loan-to-Value (LTV): Up to 95% for insured mortgages.
Property Valuation: Appraisal required to determine the property’s market value.
Credit History: Detailed analysis of the borrower’s credit report and payment history.
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It is our job to get your lowest possible rate. Your rate qualification depends on certain factors, such as credit score and home equity as per regulations.
*Advertised rates may not be offered by this lender. Mortgage lender offers are aggregated by RateShop & its Brokerage Network subject to change without notice. Speak with our mortgage broker about APR and qualification requirements.
Locations Serviced and Branch Presence in Canada
Coast Capital operates over 50 branches primarily in British Columbia, with nationwide mortgage services through digital platforms and broker partnerships like RateShop. As a federal credit union, Coast Capital is expanding its reach across Canada.
Mortgage Application Checklist
To apply for a Coast Capital mortgage, prepare the following:
Government-issued ID
Proof of income: Recent pay stubs, T4s, or bank statements
Credit history: Lender-pulled credit report
Property details: Purchase agreement or appraisal
Down payment Confirmation: Bank statements or investment documents
How to Start a Mortgage Pre-Approval
Consult a RateShop Broker: Receive personalized guidance based on your financial profile.
Submit Documentation: Provide necessary income and credit information.
Receive Pre-Approval: Secure a rate and pre-approval valid for up to 120 days.
How to Get Mortgage Rates
Online: Visit the RateShop website for competitive Coast Capital mortgage rates.
Broker Access: RateShop brokers provide exclusive deals and tailored rates.
Direct Contact: Reach out to Coast Capital mortgage specialists for customized solutions.specialists.ns.
Mortgage Pre-Payment Options
Coast Capital offers flexible pre-payment options to help you pay down your mortgage faster:
Annual Lump-Sum Payments: Up to 20% of the original principal each year.
Increased Regular Payments: Increase your monthly payment amount by up to 20% annually.
Coast Capital, in partnership with RateShop Mortgages, provides reliable mortgage solutions with flexible options and competitive rates, making homeownership accessible to Canadians from all walks of life. 🏡
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Contact Information
6 Indell Lane, Brampton ON L6T 3Y3, Canada
Local: 416-827-2626
Toll: 800-725-9946
RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador. Our Quebec Mortgage Transactions are serviced by Orbis Mortgage Group AMF# 181136.
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