{"id":842,"date":"2026-08-19T16:33:20","date_gmt":"2026-08-19T20:33:20","guid":{"rendered":"https:\/\/www.victorianewhomesgroup.com\/blog\/?p=842"},"modified":"2026-08-19T16:33:20","modified_gmt":"2026-08-19T20:33:20","slug":"real-estate-financing-in-victoria-bc-what-buyers-should-know","status":"publish","type":"post","link":"https:\/\/www.victorianewhomesgroup.com\/blog\/2026\/08\/19\/real-estate-financing-in-victoria-bc-what-buyers-should-know\/","title":{"rendered":"Real Estate Financing in Victoria BC: What Buyers Should Know"},"content":{"rendered":"<p class=\"isSelectedEnd\"><strong>Buying a home in Victoria, BC? Financing is about more than just getting a mortgage.<\/strong><\/p>\n<p class=\"isSelectedEnd\">Before you start looking at homes, it helps to understand how much you can comfortably afford, what your lender will require, and which costs you need to budget for beyond the purchase price.<\/p>\n<h2>Start With a Mortgage Pre-Approval<\/h2>\n<p class=\"isSelectedEnd\">A mortgage pre-approval can give you a clearer idea of your potential borrowing range and estimated payments. It can also help you move more confidently when you find the right home.<\/p>\n<p class=\"isSelectedEnd\">Keep in mind that a pre-approval is not a guarantee of final mortgage approval. Your lender will still review the property and your finances before the mortgage is finalized.<\/p>\n<h2>Don&#8217;t Forget the Down Payment and Closing Costs<\/h2>\n<p class=\"isSelectedEnd\">Your down payment is only one part of the financing picture. Buyers should also plan for costs such as legal or notary fees, inspections, moving expenses, and applicable taxes.<\/p>\n<p class=\"isSelectedEnd\">For resale homes, deposits are commonly around 5% to 10%, although the amount can be negotiated. The deposit generally becomes part of your down payment when the purchase completes.<\/p>\n<h2>Financing a Victoria BC Presale<\/h2>\n<p class=\"isSelectedEnd\">Presale financing can work a little differently.<\/p>\n<p class=\"isSelectedEnd\">Instead of paying the entire down payment upfront, a presale may have a deposit schedule outlined in the purchase contract. The remaining purchase price is generally due when the developer confirms the home is ready for occupancy.<\/p>\n<p class=\"isSelectedEnd\">This is why it is important to speak with a mortgage professional early. A home that looks affordable today still needs to make sense when the property is ready to close.<\/p>\n<h2>The Victoria BC Market Makes Planning Important<\/h2>\n<p class=\"isSelectedEnd\">Whether you&#8217;re buying a condo in Victoria, a townhome in Langford, or a new construction home elsewhere in Greater Victoria, understanding your financing before you shop can save you from surprises later.<\/p>\n<p class=\"isSelectedEnd\">At <strong>Victoria New Homes<\/strong>, Colleen Ferguson helps buyers understand the presale process, including the financial considerations that come with buying a home before it is built.<\/p>\n<p class=\"isSelectedEnd\">The goal isn&#8217;t simply to find a home you love. It&#8217;s to find one that works for your overall financial plan.<\/p>\n<p class=\"isSelectedEnd\"><strong>Thinking about buying a presale or new home in Victoria BC? Start with the financing conversation before you start shopping.<\/strong><\/p>\n<p><em>This article is for general information only and is not mortgage or financial advice. Speak with a qualified mortgage professional about your individual situation.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying a home in Victoria, BC? Financing is about more than just getting a mortgage. Before you start looking at homes, it helps to understand how &hellip;<\/p>\n","protected":false},"author":2,"featured_media":843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homebuying-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Real Estate Financing in Victoria BC: What Buyers Should Know - Victoria Real Estate Updates and Trends<\/title>\n<meta name=\"description\" content=\"A Victoria BC home representing the financing considerations buyers should understand before purchasing, including mortgage pre-approval, down payment, closing costs, and presale financing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.victorianewhomesgroup.com\/blog\/2026\/08\/19\/real-estate-financing-in-victoria-bc-what-buyers-should-know\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate Financing in Victoria BC: What Buyers Should Know - 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