ICBC (Canada)
Canadian subsidiary of Industrial and Commercial Bank of China with seven branches across four provinces. Lends conventional residential mortgages up to 80 percent of value for homebuyers and property investors, and reviews recently arrived Canadians case by case. It lends Ontario, British Columbia, Alberta, Quebec.
Prepayment-penalty method
Standard penalty (about three months' interest)
Breaking early is penalized at roughly three months' interest, an open-style penalty that is generally on the lower, more predictable end.
See what breaking a mortgage early could costWho it tends to fit
- Self-employed and business-owner borrowers
- Newcomers to Canada building credit here
- Buyers of rental or investment property
- Refinances and equity take-outs
General signals only. Approval depends on the full application; a lender that fits on paper still has to say yes.
What you can do with it
- Buying a home
- Refinancing
- Renewal or switch
Rate types
- Fixed rates
- Variable rates
Where it lends
Ontario, British Columbia, Alberta, Quebec
Good to know
- Conventional lending only: mortgages do not exceed 80% of price or appraised value.
- Branches limited to the Greater Toronto Area, Richmond BC, Calgary and Montreal.
- Rate holds run 90 days and approvals stay valid 180 days; apply through a bank mortgage specialist.
How to reach ICBC (Canada)
You deal with this lender directly, no broker required. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit ICBC (Canada)Educational summary; rates, terms, and approval are set by the lender.
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Educational information about Canadian mortgages, not financial or mortgage advice. This tool is offered by Jordan Avery, Mortgage Agent (Level 2), Licence M23999999 · Maple Key Mortgages Inc., FSRA Brokerage Licence 13999 and operated by LenderSearch; figures are estimates. Confirm all rates, terms, and eligibility directly with the lender before acting.