New
25
$299,900
#203 – 45660 Knight Road
Chilliwack · Residential
2 bd
1 ba
987 sqft
$304/sqft
Built 1989
MLS® R3158370
RE/MAX Nyda Realty Inc.
Pre-approval · Chilliwack
What does a mortgage pre-approval in Chilliwack actually ask for?
The median asking price in Chilliwack is $729,000. At that price the minimum down payment is $47,900, 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
$729,000
Minimum down payment
$47,900
Qualifying payment
$4,558/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 Chilliwack buyer
A $729,000 asking price puts the minimum down payment at $47,900 under the federal rules, and twenty percent at $145,800. Financing the remaining $681,100 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 $4,558 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $140,246. The census median household income in Chilliwack is $85,000, which is about $55,246 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 $47,900 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 Chilliwack home
| Median asking price | $729,000 |
| Minimum down payment | $47,900 |
| Twenty percent down | $145,800 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,558 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 Chilliwack
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Chilliwack
Newly Listed
39
$825,000
46396 Strathcona Road
Chilliwack · Residential
5 bd
2 ba
2,336 sqft
$353/sqft
Built 1971
MLS® R3149822
Select Real Estate
40
$899,900
#129 – 51096 Falls Court
Chilliwack · Residential
2 bd
2 ba
2,922 sqft
$308/sqft
Built 2018
MLS® R3136845
RE/MAX Nyda Realty Inc. (Vedder North)
31
$259,999
#218 – 9422 Victor Street
Chilliwack · Residential
2 bd
1 ba
654 sqft
$398/sqft
Built 2008
MLS® R3135200
Century 21 Creekside Realty
22
$674,900
#4 – 5648 PROMONTORY Road
Chilliwack · Residential
3 bd
3 ba
1,986 sqft
$340/sqft
Built 2007
MLS® R3156223
1NE Collective Realty Inc.
Newly Listed
15
$359,997
#103 – 8537 Young Road
Chilliwack · Residential
2 bd
1 ba
919 sqft
$392/sqft
Built 1992
MLS® R3156412
Oracle Realty
Newly Listed
35
$1,249,900
46046 Southlands Crescent
Chilliwack · Residential
7 bd
5 ba
3,151 sqft
$397/sqft
Built 2026
MLS® R3155854
Homelife Benchmark Realty Corp.
40
$879,900
45992 Silver Avenue
Chilliwack · Residential
4 bd
3 ba
2,148 sqft
$410/sqft
Built 1976
MLS® R3150420
Royal Lepage Wheeler Cheam
Newly Listed
40
$1,249,900
46054 Southlands Crescent
Chilliwack · Residential
7 bd
5 ba
3,221 sqft
$388/sqft
Built 2026
MLS® R3155874
Homelife Benchmark Realty Corp.
New
40
$879,900
#62 – 5700 Jinkerson Road
Chilliwack · Residential
3 bd
3 ba
2,560 sqft
$344/sqft
Built 2003
MLS® R3158201
Royal Lepage Wheeler Cheam
Newly Listed
37
$1,099,900
44983 Cumberland Avenue
Chilliwack · Residential
3 bd
3 ba
2,829 sqft
$389/sqft
Built 1991
MLS® R3157682
Homelife Advantage Realty Ltd
35
$524,900
#8 – 9470 Hazel Street
Chilliwack · Residential
3 bd
2 ba
1,636 sqft
$321/sqft
Built 1998
MLS® R3133483
eXp Realty
See all Chilliwack listings (1,259 active listings)
Pre-approval in cities near Chilliwack
Mortgage pre-approval in Surrey
$1,048,000 median asking price
Mortgage pre-approval in Vancouver
$1,398,000 median asking price
Mortgage pre-approval in Richmond
$1,019,000 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
$952,450 median asking price
Pre-approval questions in Chilliwack
What income does a lender test a median-priced Chilliwack purchase against?
A $729,000 purchase with $47,900 down leaves $681,100 to finance. At the qualifying rate of 6.49% over 25 years the payment is $4,558 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $140,246. The census median household income in Chilliwack is $85,000. 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 Chilliwack?
At the $729,000 median asking price, the federal minimum is $47,900, and twenty percent is $145,800. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $47,900 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.