The Real Deal Pod: Allister Carrington & Geoff Lee’s Pro Insights in Real Estate7 Elo

Ep. 105 — BC Basement Suite Mortgage Income Explained, July 2026 Stats & Why BC Buyers Have Stopped Buying

Can a basement suite rental income help you qualify for a bigger BC mortgage — or turn a declined BC mortgage application into an approval? In Episode 105 of The Real Deal Pod, Fraser Valley realtor Allister Carrington and BC mortgage broker Geoff Lee answer that question in full, then cover the July 2026 BC real estate stats and tackle the biggest question in the Fraser Valley and Metro Vancouver markets right now: after three years, why have BC buyers stopped buying — and what is it going to take to turn that around?

The July 2026 BC real estate numbers reversed June's gains almost entirely. Fraser Valley sales fell 9% year-over-year. Metro Vancouver condo sales dropped 18%. Prices remain flat to slightly down. And yet a Chilliwack condo that sold for $440K at the peak with a $35K down payment is now selling for $290K — with a $15K down payment. The affordability is there. The buyers aren't.

Geoff then delivers a practical breakdown of how BC basement suite and secondary suite rental income works in a mortgage application: what counts, what doesn't, how lenders verify it, the difference between add-back, offset, and DCR rental calculations, and why a BC mortgage broker with access to multiple lenders is essential when rental income is part of the picture.

What you'll learn:

July 2026 Fraser Valley and Metro Vancouver real estate stats
Why BC condo sales fell 18% in July — and what it means for buyers and sellers
The Chilliwack condo affordability comparison: COVID peak vs. today
Why BC buyers have spent 3 years rewiring their brains not to buy — and what Warren Buffett says about it
How basement suite and carriage house rental income works in a BC mortgage application
Suite requirements for lender recognition: separate entrance, kitchen, bathroom, bedroom
Room and board vs. suite income — what conventional BC lenders won't recognize
The three ways BC lenders calculate rental income: add-back, offset, and DCR calculator
Existing tenant with lease vs. vacant suite needing a market rent letter — what each lender requires
How rental income from a BC suite can turn a mortgage decline into an approval
Why a BC mortgage broker with multi-lender access outperforms a single-bank specialist on rental income files
Airbnb income and BC mortgage lenders — what's recognized and what's not
What BC realtors can and can't do when it comes to helping you become a landlord

Hosted by Allister Carrington | BC Realtor, KIC Realty | www.AllisterCarrington.com Co-hosted by Geoff Lee | BC Mortgage Broker, GLM Mortgage Group | www.GLMmortgage.com

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Ep. 111 — What Happens to Your BC Mortgage When You Die, Wills, Insurance & $4.4B in Unsold Condos

Your BC mortgage doesn't disappear when you die — and most Canadian homeowners have no plan for what happens next. In Episode 111 of The Real Deal Pod, Fraser Valley realtor Allister Carrington and BC...

21 Syys 47min

Ep. 110 — Condo vs Townhouse vs Detached in BC, the CMHC Affordability Report & Why Now Is the Time

CMHC says Canada needs 4.7 million new homes to restore affordability and is only on track to build half that. So is BC real estate still unaffordable? In Episode 110 of The Real Deal Pod, Fraser Vall...

14 Syys 37min

Ep. 109 — Reverse Mortgages Canada Explained: Tax-Free Retirement Income from Your Home Equity

Reverse mortgages in Canada are one of the most misunderstood and underused financial tools available to homeowners 55 and older — and in Episode 109 of The Real Deal Pod, BC mortgage broker Geoff Lee...

9 Syys 1h 6min

Ep. 108 — Co-Buying a Home in BC With a Friend or Family Member: Pros, Risks & Exit Strategy

Co-buying a home in BC — with a friend, sibling, partner, or parent — is one of the most searched strategies for getting into the BC real estate market right now. In Episode 108 of The Real Deal Pod, ...

1 Syys 51min

Ep. 107 — Should You Wait for BC Mortgage Rates to Drop? CMHC 2026 Forecast & The Four Rate Buckets Explained

Should you wait for BC mortgage rates to drop before buying? In Episode 107 of The Real Deal Pod, Fraser Valley realtor Allister Carrington and BC mortgage broker Geoff Lee answer that directly — and ...

21 Elo 38min

Ep. 106 — 7 Things NOT to Do After BC Mortgage Approval & the Cowichan Land Title Ruling One Year Later

Your BC mortgage is approved and your subjects are removed — but the deal isn't done until the completion date. In Episode 106 of The Real Deal Pod, Fraser Valley realtor Allister Carrington and BC mo...

19 Elo 45min

Ep. 104 — 10 Biggest BC Homebuyer Mistakes, the Real Estate Wealth Gap & Why Home Equity Beats Income

A new study found that established immigrants in Canada are wealthier than Canadian-born households at every income level — and the entire gap traces back to BC real estate and home equity, not income...

4 Elo 44min