What does a mortgage broker in Kelowna do?

A Kelowna mortgage broker like Ash Simpson shops your mortgage application across 50+ banks and lenders to find the best rate and terms for your situation. Unlike going directly to one bank, a broker gives you access to the full market — at no cost to you, since brokers are paid by the lender.

Can self-employed people get a mortgage in BC?

Yes. Self-employed Canadians in BC can qualify for mortgages through stated income programs, bank statement mortgages, and Alt-A lenders. Traditional banks often decline self-employed applicants because their taxable income appears low on paper. Ash Simpson at Insight Mortgage specializes in self-employed mortgage solutions that work around this.

Can I get a mortgage in BC with bad credit?

Yes. Ash Simpson works with alternative and private lenders in BC who offer mortgages to borrowers with damaged or limited credit. These solutions can also help you rebuild credit over time and transition back to a traditional lender at renewal.

What areas does Insight Mortgage serve?

Insight Mortgage is based in Kelowna, BC, and serves clients throughout British Columbia and Alberta. Ash Simpson is a licensed mortgage broker in both provinces and works with clients remotely across the country.

How much does it cost to use a mortgage broker in BC?

In most cases, using a mortgage broker in BC is completely free to the borrower. Ash Simpson is paid a commission by the lender when your mortgage closes. For certain alternative or private lending situations, a broker fee may apply — this would always be disclosed upfront.

What is the difference between a mortgage broker and a bank?

A bank can only offer its own mortgage products at its own rates. A mortgage broker like Ash Simpson has access to dozens of lenders — banks, credit unions, trust companies, and alternative lenders — and can shop your application across all of them to find the best fit.

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Ash Simpson
June 9, 2026

The 2026 Renewal Cliff: What Kelowna Homeowners Need to Know

There’s a wave moving through the Canadian housing market, and if you bought or refinanced your Kelowna home in 2020 or 2021, you’re likely in it. It has a dramatic name — the “renewal cliff” — but the situation is manageable if you understand it and act early.

What the renewal cliff is

During the pandemic, mortgage rates fell to historic lows, and a huge number of Canadians locked five-year fixed terms at rates near 2%. Those terms are now maturing. According to the Bank of Canada, roughly 60% of all outstanding mortgages renew in 2025 or 2026 — and many will renew at rates meaningfully higher than what borrowers originally locked in.

How big is the payment jump?

Households renewing a five-year fixed mortgage in 2025 or 2026 face an average payment increase of roughly 15% to 20% compared with late 2024 — about $5,100 more per year, or just over $425 a month, for a typical affected household. Borrowers on variable rates may see payments ease as rates come down; the steepest climb hits those who locked low fixed rates in 2020–2021.

What this means for Kelowna specifically

Kelowna’s home prices climbed sharply through the low-rate years, which means local mortgage balances are large — and a 15–20% payment increase on a large balance is a real monthly number. The upside: a larger balance also means the savings from shopping for a better rate are larger in absolute dollars.

Four moves to soften the hit

Know your maturity date and start 90–120 days out. Early action means a rate hold and time to shop.
Don’t auto-renew. The bank’s mailed offer is frequently above market.
Re-examine your amortization. Extending it at renewal can lower the monthly payment to absorb the shock.
Run your real number. Don’t catastrophize from a headline — calculate your actual change.

Plan beats panic

The homeowners who get hurt are the ones who wait for the letter and sign it. The ones who come out fine plan 90–120 days ahead and shop the market. See your options for a mortgage renewal in Kelowna, or book a free review with Ash Simpson at 250-859-2100.

Related reading: the 12-step BC mortgage renewal checklist