VanPlex Plexperts · BC Multiplex Money
Vancity Credit Union
Featured on VanPlex Plexperts — the curated directory of BC multiplex money.
Multiplex Construction Mortgage, Vancity Credit Union
The first BC lender with a retail mortgage made for building a multiplex.
Launched October 2025, expanded April 2026. Up to 80% of project cost. 18 months interest-only during construction. Qualify as an individual owner — no company required. Separate terms and amortizations for each co-owner.
80%
of project cost financed
18 mo
interest-only build period
45+
projects approved by Apr 2026
$60.4M
in approvals by Apr 2026
Meet Vancity Credit Union
Vancity launched its Multiplex Construction Mortgage on October 21, 2025, and expanded it on April 8, 2026. It was the first product in BC built to finance a multiplex as a retail mortgage rather than commercial construction lending. By the April expansion, Vancity had approved more than 45 projects worth $60.4 million.
The loan covers up to 80% of the cost to build a low-rise building of up to four units — duplex, triplex, or fourplex — including knocking down a single-family home and replacing it. It runs interest-only for the first 18 months while you build, then converts. Each co-owner can hold a separate term and amortization, and rental income can be counted toward qualifying.
The product is aimed at what Vancity calls citizen developers: ordinary property owners turning a single lot into a few homes, not large development firms. You can qualify in your own name without incorporating. Vancity says a lot of the demand comes from owners near retirement who have built up equity and want to add units so adult children can live nearby.
Vancity has financed small infill housing for a long time. It was among the first to lend on Vancouver laneway homes more than a decade ago after the city changed its zoning, and the multiplex mortgage follows the same pattern after BC and Vancouver opened lots to up to four or six units.
Credentials
Why work with Vancity
01
Built for one-lot multiplex projects, not big developers
Most construction financing assumes a development company and a track record. Vancity lets an individual owner qualify in their own name to build a duplex, triplex, or fourplex on their lot. No incorporation required.
02
Interest-only while you build
The loan runs interest-only for the first 18 months during construction, so your carrying cost stays low until the units are done and can be sold, rented, or refinanced.
03
Handles co-owners and rental income
Each co-owner can carry a separate term and amortization, which fits family groups or partners building together. Rental income from the finished units can count toward qualifying.
Frequently asked questions
Do I need a company to get this mortgage?
How much of my multiplex build will Vancity finance?
Where is the multiplex mortgage available?
Talk to Vancity about financing your multiplex build in your own name with up to 80% of project cost.
Reach out directly — no VanPlex middle layer.
Other money
Dustan Woodhouse
Funded 1,695 mortgages from 2008 to 2018 and topped $100M in personal volume three years running. Won Canadian Mortgage Professional Broker of the Year in 2017.
Manning Elliott LLP
BC CPA firm founded in 1952, now 200+ accountants across four offices, with a Real Estate Practice Group for developers, landlords, and investors.
BFL CANADA
Employee-owned commercial brokerage founded in 1987, with a construction practice covering builders risk, wrap-up liability, and contractor insurance.
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