35
$1,499,000
$699/sqft
4 bd · 4 ba · 2,143 sqft
#102, 706 Smith Avenue
Coquitlam · Half Duplex
Listed by Team 3000 Realty Ltd.MLS® R3154805
Pre-approval · Coquitlam
What does a mortgage pre-approval in Coquitlam ask for?
At the $956,450 median asking price, you need $70,645 down. A lender tests a payment of $5,928 a month.
- Minimum down
- $70,645
- Monthly payment a lender tests
- $5,928
- Implied household income
- $182,400
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $70,645
- Monthly payment a lender tests
- $5,928
- Implied household income
- $182,400
What a Coquitlam buyer needs
At $956,450, the minimum down payment is $70,645 and twenty percent is $191,290. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $5,928 a month over 25 years, which needs a household income near $182,400. The Coquitlam census median is $92,000, about $90,400 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $70,645 minimum.
Minimum down payment on a Coquitlam home
| Figure | Amount |
|---|---|
| Median asking price | $956,450 |
| Minimum down payment | $70,645 |
| Twenty percent down | $191,290 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $5,928 per month |
The qualifying payment uses an illustrative rate, not a quote.
What a lender checks first
- 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 Coquitlam
Active listings in Coquitlam
1,332 active listings
28
$5,999,000
$2,009/sqft
4 bd · 3 ba · 2,986 sqft
3417 Roxton Avenue
Coquitlam · Single Family Residence
Listed by Team 3000 Realty Ltd.MLS® R3120936
40
$2,549,000
$611/sqft
5 bd · 5 ba · 4,172 sqft
3357 Scotch Pine Avenue
Coquitlam · Single Family Residence
Listed by Royal LePage Elite WestMLS® R3170535
36
$675,000
$685/sqft
2 bd · 2 ba · 986 sqft
#215, 617 Smith Avenue
Coquitlam · Apartment/Condo
Listed by Oakwyn Realty Ltd.MLS® R3165504
30
$1,168,000
$499/sqft
3 bd · 3 ba · 2,342 sqft
#140, 1495 Lansdowne Drive
Coquitlam · Townhouse
Listed by eXp RealtyMLS® R3161556
21
$1,248,888
$606/sqft
5 bd · 4 ba · 2,060 sqft
#102, 1125 Cartier Avenue
Coquitlam · Half Duplex
Listed by TRG The Residential Group RealtyMLS® R3166767
27
$630,000
$766/sqft
2 bd · 2 ba · 822 sqft
#411, 750 Dogwood Street
Coquitlam · Apartment/Condo
Listed by Oakwyn Realty EncoreMLS® R3173984
40
$1,149,000
$485/sqft
3 bd · 3 ba · 2,367 sqft
#43, 2990 Panorama Drive
Coquitlam · Townhouse
Listed by Royal LePage Sterling RealtyMLS® R3173413
22
$410,000
$528/sqft
1 bd · 1 ba · 777 sqft
#219, 295 Schoolhouse Street
Coquitlam · Apartment/Condo
Listed by RE/MAX All Points RealtyMLS® R3104903
40
$1,275,000
$638/sqft
4 bd · 4 ba · 1,998 sqft
#101, 957 Edgar Avenue
Coquitlam · Half Duplex
Listed by LeHomes Realty PremierMLS® R3139557
14
$699,000
$857/sqft
2 bd · 2 ba · 816 sqft
#1505, 3096 Windsor Gate
Coquitlam · Apartment/Condo
Listed by Royal Pacific Lions Gate Realty Ltd.MLS® R3174246
40
$1,599,900
$414/sqft
5 bd · 4 ba · 3,867 sqft
1336 Cimarron Drive
Coquitlam · Single Family Residence
Listed by Royal LePage West Real Estate ServicesMLS® R3173153
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).
Pre-approval in cities near Coquitlam
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 Chilliwack
$750,000 median asking price
Pre-approval questions in Coquitlam
At the $956,450 median, the minimum is $70,645 and twenty percent is $191,290. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $70,645 minimum.
No. Final approval also depends on the property.
Yes. It is based on you, not a home, so it works anywhere in BC.
Related pages
Prepared by
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Data
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).
CorrectionsReport a correction
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.