69
$1,449,000
3207 Nathan Place
Campbell River · Residential
4 bd
4 ba
3,380 sqft
$429/sqft
Built 2022
MLS® 1047486
REMAX Ocean Pacific (CR)
Pre-approval · Campbell River
What does a mortgage pre-approval in Campbell River actually ask for?
The median asking price in Campbell River is $686,900. At that price the minimum down payment is $43,690, and a lender would test the balance at the federal qualifying rate rather than the rate you would pay. Here is what that works out to, and what a lender checks before any of it applies.
Median asking price
$686,900
Minimum down payment
$43,690
Qualifying payment
$4,304/mo
Estimated range · question 1 of 3
What is your gross household income?
Choose a range to start. Two more answers shape the estimate before any lender or credit check.
No credit check · About 1 minute See what you could qualify for
What the numbers ask of a Campbell River buyer
A $686,900 asking price puts the minimum down payment at $43,690 under the federal rules, and twenty percent at $137,380. Financing the remaining $643,210 and testing it at the qualifying rate of 6.49%, which is higher than the illustrative contract rate of 4.49%, produces a payment of $4,304 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $132,431. The census median household income in Campbell River is $78,000, which is about $54,431 short of the figure the payment implies.
A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $43,690 minimum possible. The premium is added to the mortgage.
Whether your own numbers clear that bar is a lender’s call, and it is a short conversation when your file is ready. See your estimated mortgage range and walk in with it assembled.
Minimum down payment on a Campbell River home
| Median asking price | $686,900 |
| Minimum down payment | $43,690 |
| Twenty percent down | $137,380 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,304 per month |
The minimum is five percent of the first $500,000, ten percent of any portion between $500,000 and $1,500,000, and twenty percent on anything above $1,500,000. The qualifying payment is arithmetic at an illustrative rate, not a quote.
What a lender is testing before any of this applies
- Income you can document. Pay stubs, a letter of employment, and two years of Notices of Assessment. Self-employed files need two years of T1 Generals.
- Debt you already carry. Balances, minimum payments, and limits, including the limit on a card you never use.
- A down payment with ninety days of history. Any large deposit inside that window needs a paper trail, and a gift needs a signed letter.
- Credit. A hard check, read alongside how long your history runs.
The full document list is on how to get pre-approved for a mortgage in BC.
Homes on the market in Campbell River
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Campbell River
39
$855,000
720 Sitka Street
Campbell River · Residential
3 bd
2 ba
1,754 sqft
$487/sqft
Built 2022
MLS® 1042534
REMAX Ocean Pacific (CR)
37
$729,900
3978 Craig Road
Campbell River · Residential
3 bd
2 ba
1,975 sqft
$370/sqft
Built 1986
MLS® 1046883
REMAX Ocean Pacific (CR)
35
$584,900
#4 – 1090 Evergreen Road
Campbell River · Residential
3 bd
3 ba
1,675 sqft
$349/sqft
Built 2023
MLS® 1046729
Royal LePage Advance Realty
31
$519,900
#109 – 701 HILCHEY Road
Campbell River · Residential
3 bd
2 ba
1,477 sqft
$352/sqft
Built 2008
MLS® 1044290
REMAX Ocean Pacific (CR)
49
$625,000
221 Hilchey Road
Campbell River · Residential
3 bd
2 ba
1,542 sqft
$405/sqft
Built 1950
MLS® 1043304
eXp Realty (CR)
30
$699,900
#2 – 343 Arizona Drive
Campbell River · Residential
3 bd
2 ba
1,503 sqft
$466/sqft
Built 2026
MLS® 1039551
REMAX Ocean Pacific (CR)
51
$629,000
66 Oregon Road
Campbell River · Residential
3 bd
1 ba
1,280 sqft
$491/sqft
Built 1976
MLS® 1044536
Royal LePage Advance Realty
57
$845,000
542 THULIN Street
Campbell River · Residential
4 bd
3 ba
1,904 sqft
$444/sqft
MLS® 1047148
eXp Realty (CR)
49
$989,000
2275 Milford Road
Campbell River · Residential
4 bd
3 ba
2,475 sqft
$400/sqft
Built 1973
MLS® 1046366
Engel & Volkers Vancouver Island North
29
$745,000
115 Colorado Drive
Campbell River · Residential
3 bd
2 ba
1,265 sqft
$589/sqft
Built 1996
MLS® 1047099
Royal LePage Advance Realty
32
$619,000
#15 – 769 Merecroft Road
Campbell River · Residential
2 bd
2 ba
1,396 sqft
$443/sqft
Built 2006
MLS® 1043770
eXp Realty (NA)
See all Campbell River listings (312 active listings)
Pre-approval in cities near Campbell River
Mortgage pre-approval in Surrey
$1,049,000 median asking price
Mortgage pre-approval in Vancouver
$1,398,000 median asking price
Mortgage pre-approval in Richmond
$1,020,000 median asking price
Mortgage pre-approval in Burnaby
$890,000 median asking price
Mortgage pre-approval in Kelowna
$799,000 median asking price
Mortgage pre-approval in Langley
$949,900 median asking price
Mortgage pre-approval in Abbotsford
$824,900 median asking price
Mortgage pre-approval in Coquitlam
$950,000 median asking price
Pre-approval questions in Campbell River
What income does a lender test a median-priced Campbell River purchase against?
A $686,900 purchase with $43,690 down leaves $643,210 to finance. At the qualifying rate of 6.49% over 25 years the payment is $4,304 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $132,431. The census median household income in Campbell River is $78,000. Your own number will differ with your debts, your down payment, and your property taxes.
How much do I need for a down payment in Campbell River?
At the $686,900 median asking price, the federal minimum is $43,690, and twenty percent is $137,380. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $43,690 minimum possible. The premium is added to the mortgage. Closing costs sit on top of the down payment.
Does a pre-approval mean the mortgage is approved?
No. A pre-approval is a lender’s conditional statement about you. Final approval also depends on the specific property, which the lender appraises and, for a condo, reviews the strata documents on.
Can I get pre-approved before I choose a city?
Yes, and it is the usual order. A pre-approval is based on your income, debts, and credit rather than on a particular home, so the amount travels with you across BC. The down payment minimum changes with the price, not with the city.
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Listing data provided by the Greater Vancouver REALTORS® and partner boards under MLS® Reciprocity. Deemed reliable but not guaranteed accurate. MLS® and REALTOR® are trademarks of CREA. Asking prices come from the live MLS® feed through board reciprocity. Household income is the Statistics Canada census median for the city. Payment figures use an illustrative rate over a 25-year amortization and the federal qualifying rate. They are arithmetic, not a quote, and not an offer of credit. Ray Rasouli is a licensed REALTOR® with Real Broker B.C. Ltd. and is not a mortgage broker or a lender. Nothing on this page is financial advice, a rate quote, or an offer of credit.