Private Loans in Burnaby, BC
Burnaby homeowners sit on significant equity thanks to decades of appreciation. Private lending unlocks that equity fast — without the red tape of traditional banks — for renovations, debt payoff, or investment opportunities.
$1.1M+
Average Burnaby Property Value
250,000+
Burnaby Population
Burnaby's proximity to Vancouver and SFU/BCIT campuses creates strong rental demand, making it a prime market for real estate investors seeking bridge financing.
Private Lending in Burnaby: The Local Picture
Burnaby sits at the geographic centre of Metro Vancouver and has experienced some of the most consistent property value appreciation in the region over the past two decades. As of early 2026, the benchmark price for a detached home in Burnaby is approximately $1.6M–$1.9M, while condos in high-density corridors like Metrotown and Brentwood average $700K–$950K. Homeowners who purchased even 5–10 years ago have typically accumulated $400K–$800K in equity.
That equity is the foundation of Burnaby’s private lending market. Many Burnaby homeowners are long-term residents who have paid down their original mortgage significantly but now face a situation where the bank won’t approve additional financing — perhaps because of a credit event, self-employment income, or a property that doesn’t fit standard appraisal guidelines. Private lenders evaluate these deals based on the equity position and exit strategy, not the borrower’s credit file alone.
Burnaby also has a significant investor and developer market. The city’s transit-oriented development zones around Metrotown, Brentwood, and Lougheed have attracted substantial condo development activity, and private bridge financing is frequently used by developers and investors to fund land acquisition, pre-construction deposits, or gap financing between construction draws. Private lenders familiar with Burnaby’s development market can evaluate these deals quickly.
Renters and those without property can access personal loans up to $35,000 through our network, with same-day funding available.
Who Uses Private Loans in Burnaby?
Private lending in Burnaby serves a wide range of borrowers. Here are the most common situations we see.
The Metrotown Condo Owner Consolidating Debt
Situation: Owns a $850K condo in Metrotown with a $420K first mortgage. Has $65K in high-interest credit card and line-of-credit debt. Bank declined a refinance due to a 580 credit score.
Solution: A private second mortgage at 65% combined LTV to pay off the consumer debt. Monthly payment drops significantly. 12-month term to rebuild credit, then refinances to a B-lender.
The Burnaby Heights Homeowner Funding a Renovation
Situation: Owns a $1.7M detached home in Burnaby Heights with a $600K first mortgage. Wants $200K for a full kitchen and basement renovation. Bank declined due to self-employment income.
Solution: A private second mortgage at 47% combined LTV. Low-risk deal for the lender. 12-month term at 10.5%. Refinances to a bank mortgage after renovation increases property value.
The Brentwood Investor Bridging a Pre-Sale
Situation: Purchased a pre-sale condo in Brentwood in 2022 for $780K. Completion is in 60 days. Conventional financing fell through due to a job change. Needs bridge financing.
Solution: A private first mortgage bridge loan for 90 days at 65% LTV. Covers the completion while the borrower secures conventional financing with the new employer.
The Capitol Hill Couple Facing Power of Sale
Situation: Fell behind on mortgage payments during a medical leave. Lender has issued a notice. Property worth $1.5M with $700K owing. Need to stop the power of sale process.
Solution: A private first mortgage refinance at 55% LTV. Pays out the existing lender, stops the power of sale, and provides breathing room. 12-month term with a clear exit plan.
What You Can Borrow Against in Burnaby
Private lenders in Burnaby lend against a range of property types. LTV limits vary by property and lender.
Detached Houses (Burnaby Heights, Capitol Hill, Deer Lake)
Most lender-friendly. Up to 75% LTV. High-value Burnaby detached homes attract competitive rates.
Condos and Strata Units (Metrotown, Brentwood, Lougheed)
Widely accepted at 65–70% LTV. High-density corridors have strong resale liquidity.
Townhouses
Accepted at 70–75% combined LTV. Freehold townhomes preferred over strata.
Older Character Homes (Burnaby Heights, Sullivan Heights)
Accepted. Lender will order appraisal to confirm value. Condition affects LTV limit.
Investment Properties and Rental Units
Accepted. Rental income can support the exit strategy. LTV typically 65–70%.
Pre-Sale Assignments and New Construction
Bridge financing available for pre-sale completions. Deal-specific — depends on completion timeline and equity.
We Serve All Burnaby Neighbourhoods
How to Apply for a Private Loan in Burnaby
The process is straightforward and takes less than 10 minutes to start.
- 1
Complete the 2-minute eligibility check
Answer questions about your Burnaby property, loan amount, and situation at BCPrivateLoans.ca/apply. No credit check required at this stage.
- 2
Get matched with active Burnaby lenders
Browse private lenders who are actively funding deals in Burnaby and Metro Vancouver.
- 3
Receive a conditional approval
A lender or licensed mortgage broker reviews your situation and provides a conditional approval, typically within 24–48 hours.
- 4
Property appraisal and documentation
The lender orders an appraisal of your Burnaby property. You provide ID, your existing mortgage statement, and a brief income description.
- 5
Legal and funding
Your lawyer and the lender’s lawyer register the mortgage. Funds are typically advanced within 5–10 business days of conditional approval.
BCPrivateLoans.ca serves all Burnaby neighbourhoods and the broader Metro Vancouver region. Whether your property is in Metrotown, Brentwood, Capitol Hill, or Burnaby Heights, our network of private lenders can evaluate your deal. We also serve New Westminster, Coquitlam, Port Moody, and Vancouver.
Frequently Asked Questions — Private Loans in Burnaby
What is the minimum equity I need for a private mortgage in Burnaby?
Most private lenders in Burnaby require at least 25–30% equity in your property. For a $1.1M Burnaby home, that means your total mortgage balance should not exceed approximately $825,000 (75% LTV). For second mortgages, the combined LTV limit is typically 70–75%. Burnaby’s high property values mean most long-term homeowners easily meet this threshold.
Can I stop a power of sale on my Burnaby property with a private mortgage?
In many cases, yes. If you have sufficient equity in your Burnaby property, a private lender can refinance your existing mortgage, pay out the lender who issued the power of sale notice, and give you time to stabilize your situation. This is one of the most time-sensitive situations in private lending — if you’ve received a power of sale notice, contact a mortgage professional immediately.
Are private mortgage rates different in Burnaby vs Vancouver?
Rates are very similar. Burnaby properties are highly liquid and well-understood by Metro Vancouver lenders, so they attract rates comparable to Vancouver. First mortgage rates typically range from 8.5–10% in 2026. Second mortgage rates range from 10.5–12.5%. The key variables are your LTV ratio, property type, and the clarity of your exit strategy.
How quickly can I get funded in Burnaby?
For straightforward deals (strong equity, clear exit strategy, standard property type), private mortgage lenders in Burnaby can provide a verbal approval within 24 hours and fund within 5–7 business days. More complex deals (construction, commercial, power of sale) may take 7–14 business days. This is significantly faster than bank timelines of 2–4 weeks.
Does BCPrivateLoans.ca serve all Burnaby neighbourhoods?
Yes. BCPrivateLoans.ca connects borrowers across all Burnaby areas including Metrotown, Brentwood, Lougheed, Edmonds, Deer Lake, Capitol Hill, Sullivan Heights, and Burnaby Heights. We also serve neighbouring municipalities including New Westminster, Coquitlam, and Vancouver.
Disclaimer: BCPrivateLoans.ca is an independent mortgage information marketplace. We do not provide mortgage advice, originate loans, or act as a mortgage broker. All content on this page is for educational purposes only. Loan availability, rates, and terms vary by lender and individual circumstances. Always consult a licensed mortgage professional before making financing decisions. BCPrivateLoans.ca is not responsible for the actions or decisions of any lender listed on this site.
Verified Lenders
Private Lenders Serving Burnaby
The following lenders are active in the Metro Vancouver area and accept applications from Burnaby borrowers. Rates shown are indicative — your final rate depends on LTV, property type, and credit profile.
Alpine Credits
FeaturedBC's Established Direct Home Equity Lender
Capital Direct
Featured25+ Years of Private Mortgage Lending in BC
Fisgard Capital Corporation
FeaturedCanada's Established MIC — $314M+ AUM Since 1996
First Circle Mortgage Investment Corp.
FeaturedNorth Shore MIC — 30+ Years Serving Southwestern BC
Silver Hill Mortgage Corp.
Metro Vancouver & Fraser Valley Private Mortgage Specialists
Trez Capital
Institutional Commercial Lending — $5.4B+ AUM
Showing 6 lenders active in Metro Vancouver. Browse the full directory →
Check My Eligibility — FreeRates shown are indicative and subject to change without notice. BCPrivateLoans.ca is a directory service and does not provide mortgage advice. Always consult a licensed mortgage broker before making financing decisions.