Nanaimo's Trusted Mortgage Brokerage
Nestled on the east coast of Vancouver Island, Nanaimo is one of BC's fastest-growing mid-sized cities. Kraft Mortgages brings over two decades of mortgage expertise to help Nanaimo buyers navigate this evolving market with confidence.
Get Pre-Approved TodayThe Nanaimo Housing Market
Average Home Price
The benchmark home price in Nanaimo sits around $750,000, with single-family homes averaging closer to $900,000. Condominiums offer a more accessible entry point near $450,000, making them popular with first-time buyers and downsizers relocating from the mainland.
A Growing Community
With a population surpassing 104,000 and steady growth driven by mainland migration and remote work trends, Nanaimo's demand for housing continues to outpace supply. Neighbourhoods like Hammond Bay, Departure Bay, and the Old City Quarter remain highly sought after.
Our Mortgage Services in Nanaimo
Self-Employed Mortgages
Nanaimo's small business community is thriving. We work with lenders who understand entrepreneurial income and offer stated-income and alternative documentation programs tailored to self-employed professionals.
Investment Properties
With strong rental demand from VIU students and seasonal workers, Nanaimo is an attractive market for real estate investors. We help you structure financing to maximize cash flow and build your portfolio on Vancouver Island.
Newcomer Mortgages
Whether you are relocating from elsewhere in Canada or arriving from abroad, we guide newcomers through Nanaimo's mortgage landscape with patience and clarity, connecting you with lenders who welcome new Canadians.
Why Choose a Local Nanaimo Mortgage Broker?
Vancouver Island's real estate market operates differently from the mainland. Property valuations, strata rules, water access considerations, and local zoning all play a role. We understand Nanaimo's nuances and leverage relationships with Vancouver Island credit unions and lenders who know this market inside and out. Our single priority is getting you the best rate and terms — not meeting a bank's sales targets.
Frequently Asked Questions
What is the minimum down payment for a home in Nanaimo?
For properties under $500,000, the minimum down payment is 5%. For homes between $500,000 and $999,999, it is 5% on the first $500,000 and 10% on the portion above that. Homes over $1 million require a minimum 20% down payment.
Can I get a mortgage with a mainland-based lender for a Nanaimo property?
Absolutely. Most major banks and many monoline lenders finance Vancouver Island properties. We also work with local credit unions like Coastal Community and VIU Credit Union that often offer competitive rates and flexible terms for island buyers.
Is Nanaimo a good market for rental property investment?
Yes. Strong demand from Vancouver Island University students, healthcare workers, and retirees creates consistent rental demand. We can help you evaluate cap rates and structure financing that supports positive cash flow.
Ready to Get Started?
Contact our Nanaimo team today for a free consultation.