Housing Loan Assistance for Faculty
The Faculty Home Ownership Program (FHOP) contains different loan options designed to make home ownership more affordable for approved full-time faculty. FHOP includes:
- Prescribed Interest Rate Loans applicable to a principal and only residence in Metro Vancouver, and
- Downpayment assistance for full time faculty within 10 years of hire, in the form of a forgivable $45,000 or 50,000 loan (depending on hire date) that may be stacked with the PIRL, and is applicable to a principal residence anywhere in Metro Vancouver.
On-Campus Leasehold Homes for Purchase (Market Prices) by General Public
Long-term leasehold homes (up to 99-years) are available for purchase on campus by the general public, including Faculty and staff. These units can be purchased new at market rates directly from private developers (not the university). They can also be purchased privately on a resale basis directly from current unit owners.
Links to information on new projects currently under development, as described by their developers (including photographs and floorplans), can be found on the UBC Properties Trust website. (Note: Those faculty who have been approved for Faculty Home Ownership Program loans from the university, may use their loans towards purchase of new units in these buildings).
Information on resale listings can be found through the regular real estate market channels. Listings and realtors may be found through the same resources as available for off-campus purchases, below.
Off-Campus – General Public Real Estate (Market Prices)
The Real Estate Board of Greater Vancouver provides information on housing prices by municipality and dwelling type, as well as tips on selling and buying a home.
The Canadian Real Estate Association’s Multiple Listing Service (MLS) contains comprehensive real estate listings for Vancouver and surrounding areas. See also the RealtyLink site.
The BuzzBuzzHome website catalogues all new residential developments (new homes) in British Columbia including Vancouver and surrounding areas.
For more information about neighbourhoods in the City of Vancouver, please click here.
The websites listed below can help you search for Realtors in your area. Many of these sites also offer helpful tools for home-buyers including mortgage calculators, tips on choosing a Realtor as well as general homebuyers’ guides.
- Real Estate Board of Greater Vancouver – Find a Realtor
- Greater Vancouver Real Estate Agents
Banks / Mortgages
UBC’s Faculty Home Ownership Program works with several financial institutions, including CIBC, HSBC, RBC, TD and Vancity. Please feel free to contact our office for assistance in contacting these banks regarding the FHOP.
Most banks publish their the current mortgage rates on their websites:
Housing Commute Distance Information
When considering homes in different parts of the metropolitan region, it can be useful to know approximate commute times to UBC. The table below shows the commute time from various areas. Homes with further commute times are generally available for cheaper rental and purchase prices than homes in the Vancouver West area (the closest municipality to campus).
|Municipality||Commute Time to UBC
|Vancouver West||10-15 minutes|
|Vancouver East||20-30 minutes|
|North Vancouver||40 minutes|
|Burnaby East||45 minutes|
|Burnaby North||45 minutes|
|Burnaby South||45 minutes|
|New Westminster||45 minutes|
|West Vancouver||50 minutes|