Second property and investment files in British Columbia.

Owner-occupied minimum down payment is 5% on first $500K; second properties require 20% minimum for true investment properties (rentals).

British Columbia adds its own layer. Lower Mainland and Victoria carry premium pricing and tighter lender appetite on leasehold and strata files. Wildfire/flood disclosures now affect insurance binders in the Interior. That matters here because underwriters are already scrutinizing the income side of a second property and investment files file — a property or program complication local to British Columbia can push a marginal file over the edge.

Property Transfer Tax: 1% on first $200K, 2% to $2M, 3% above, 5% above $3M on residential.

Programs to check eligibility for in British Columbia:

• First-Time Home Buyers' Program (PTT exemption up to $500K)
• Newly Built Home Exemption
• FHSA

• Standard income, credit, and down-payment proof
• Existing property mortgage statement and tax
• Rental projections or signed lease for the new property

British Columbia nuance: Self-employed BC borrowers should expect to provide T1 Generals plus business bank statements going back 12 months.

• Strata depreciation reports and contingency reserves are underwriter-grade documents in BC.
• Speculation and Vacancy Tax applies to certain owners — disclose residency status upfront.
• Foreign Buyer ban interacts with BC's additional property transfer tax.

Underwriter view of this scenario: Two non-owner-occupied properties trigger lender exposure rules. Some lenders cap the number of rentals on the same borrower.

• Document existing property cash flow precisely
• Choose lenders with explicit investor-friendly rental income policy
• Maintain at least 6 months of carrying-cost reserves

• No reserves for vacancy or repairs.
• Existing rental running negative cash flow.