Mortgage pre-approval in BC
See what lenders check and what to bring before you apply.
Affordability estimate · 1 of 3
What is your household income before tax?
A lender checks your income, debts and credit, then states the most they would lend and holds a rate, often for 90 to 120 days.
A pre-qualification is only an estimate. A pre-approval means a lender checked your credit and documents.
You get one from a lender or a mortgage broker. Ray does not arrange mortgages and does not recommend a lender.
Have these ready before your first call.
Registered plans can also go toward the down payment. See . .
Rate. A rate hold caps your rate until it expires. Get the expiry date in writing.
The mortgage. Final approval depends on the property. A lender can turn down a home even when your file is fine.
Your file not changing. A new job, car loan or credit line can change the answer. Lenders check again before closing.
The amount you should spend. It is the most a lender will lend, not a budget. See the payment on a price.
Mortgage pre-approval in Surrey
$999,999 median asking price
Mortgage pre-approval in Vancouver
$1,379,500 median asking price
Mortgage pre-approval in Burnaby
$859,950 median asking price
Mortgage pre-approval in Richmond
$1,004,800 median asking price
Mortgage pre-approval in Kelowna
$789,450 median asking price
Mortgage pre-approval in Langley
$959,900 median asking price
Mortgage pre-approval in Abbotsford
$799,900 median asking price
Mortgage pre-approval in Coquitlam
$956,450 median asking price
Mortgage pre-approval in Chilliwack
$750,000 median asking price
Mortgage pre-approval in North Vancouver
$1,298,000 median asking price
Mortgage pre-approval in Kamloops
$639,750 median asking price
Mortgage pre-approval in Maple Ridge
$1,099,000 median asking price
Mortgage pre-approval in Prince George
$399,900 median asking price
Mortgage pre-approval in Vernon
$595,000 median asking price
Mortgage pre-approval in Nanaimo
$699,900 median asking price
Mortgage pre-approval in Delta
$1,287,000 median asking price
Mortgage pre-approval in Mission
$899,000 median asking price
Mortgage pre-approval in New Westminster
$720,000 median asking price
Mortgage pre-approval in West Kelowna
$739,900 median asking price
Mortgage pre-approval in Victoria
$700,000 median asking price
Mortgage pre-approval in Langford
$699,000 median asking price
Mortgage pre-approval in West Vancouver
$3,000,000 median asking price
Mortgage pre-approval in Saanich
$1,085,000 median asking price
Mortgage pre-approval in Penticton
$648,750 median asking price
Mortgage pre-approval in Port Coquitlam
$900,000 median asking price
Mortgage pre-approval in Osoyoos
$464,900 median asking price
Mortgage pre-approval in White Rock
$1,099,000 median asking price
Mortgage pre-approval in Whistler
$1,722,000 median asking price
Mortgage pre-approval in Port Moody
$999,950 median asking price
Mortgage pre-approval in Squamish
$1,032,500 median asking price
Mortgage pre-approval in Campbell River
$649,900 median asking price
Mortgage pre-approval in Lake Country
$999,000 median asking price
Mortgage pre-approval in Sechelt
$799,000 median asking price
Mortgage pre-approval in Salmon Arm
$664,900 median asking price
Mortgage pre-approval in Sooke
$789,900 median asking price
Mortgage pre-approval in Courtenay
$759,500 median asking price
Mortgage pre-approval in Port Alberni
$549,900 median asking price
Mortgage pre-approval in Duncan
$793,500 median asking price
Mortgage pre-approval in Fort St. John
$375,000 median asking price
Mortgage pre-approval in Quesnel
$349,450 median asking price
Mortgage pre-approval in Powell River
$554,500 median asking price
Mortgage pre-approval in Gibsons
$968,500 median asking price
Mortgage pre-approval in Oliver
$735,000 median asking price
Mortgage pre-approval in Summerland
$798,950 median asking price
Mortgage pre-approval in Merritt
$474,900 median asking price
Mortgage pre-approval in Williams Lake
$468,000 median asking price
Mortgage pre-approval in Parksville
$759,000 median asking price
Mortgage pre-approval in Hope
$674,900 median asking price
Mortgage pre-approval in Qualicum Beach
$899,000 median asking price
Mortgage pre-approval in Dawson Creek
$339,000 median asking price
Mortgage pre-approval in Cranbrook
$524,900 median asking price
No. Final approval also depends on the property and on your file not changing.
There is no single number. Insured mortgages usually need a score in the 600s or higher.
A hard credit check can move your score slightly. Several checks in a short window usually count as one.
Yes. Common causes are a job change, new debt, an untraceable down payment, or a property the lender will not finance.
Not to browse, but yes before you make an offer.
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Source: MLS® listing data from BC real estate boards (MLS® Reciprocity) and CREA's DDF®.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
Payments use an illustrative rate over 25 years and the federal qualifying rate. Not a quote or an offer of credit. Ray Rasouli is a licensed REALTOR® and is not a mortgage broker or a lender. Nothing on this page is financial advice, a rate quote, or an offer of credit.