Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for North Vancouver homebuyers.
Based on $$1,150,000 average home price at current British Columbia rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $57,500 | $43,700 | $1,136,200 | $6,602/mo | $5,627/mo |
| 10% | $115,000 | $32,085 | $1,067,085 | $6,201/mo | $5,285/mo |
| 15% | $172,500 | $27,370 | $1,004,870 | $5,839/mo | $4,977/mo |
| 20%NO CMHC | $230,000 | $0 ✅ | $920,000 | $5,346/mo | $4,557/mo |
The average home price in North Vancouver is approximately $1,150,000 as of 2026, representing a +1.9% change year-over-year.
Current 5-year fixed rates in North Vancouver start around 4.94%, while variable rates start around 3.40%. Credit unions in British Columbia often offer rates 0.25–0.50% below major banks.
To afford a $1,150,000 home in North Vancouver with 10% down at 4.94%, you would need approximately $185,046/year gross income to meet the GDS ratio of 39%.
For a $1,150,000 home, the minimum down payment is 20%. With 5% down, CMHC insurance of $43,700 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.40%) are currently lower than 5-year fixed (4.94%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.