14
$283,900
$322/sqft
2 bd · 1 ba · 883 sqft
#203, 123 Back Road
Courtenay · Single Family
Listed by Royal LePage-Comox Valley (CV)MLS® 1051971
Pre-approval · Courtenay
What does a mortgage pre-approval in Courtenay ask for?
At the $759,500 median asking price, you need $50,950 down. A lender tests a payment of $4,742 a month.
- Minimum down
- $50,950
- Monthly payment a lender tests
- $4,742
- Implied household income
- $145,908
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $50,950
- Monthly payment a lender tests
- $4,742
- Implied household income
- $145,908
What a Courtenay buyer needs
At $759,500, the minimum down payment is $50,950 and twenty percent is $151,900. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $4,742 a month over 25 years, which needs a household income near $145,908. The Courtenay census median is $72,000, about $73,908 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $50,950 minimum.
Minimum down payment on a Courtenay home
| Figure | Amount |
|---|---|
| Median asking price | $759,500 |
| Minimum down payment | $50,950 |
| Twenty percent down | $151,900 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,742 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 Courtenay
Active listings in Courtenay
262 active listings
57
$449,900
$420/sqft
3 bd · 2 ba · 1,072 sqft
#108, 1320 Henry Road
Courtenay · Single Family
Listed by Royal LePage-Comox Valley (CV)MLS® 1051022
13
$389,000
$415/sqft
2 bd · 2 ba · 938 sqft
#11, 4714 Muir Road
Courtenay · Single Family
Listed by eXp Realty (NA)MLS® 1051699
83
$1,275,000
$561/sqft
5 bd · 3 ba · 2,271 sqft
3386 Lake Trail Road
Courtenay · Single Family
Listed by REMAX Ocean Pacific (Crtny)MLS® 1051827
41
$1,199,000
$385/sqft
4 bd · 4 ba · 3,118 sqft
3372 Marygrove Drive
Courtenay · Single Family
Listed by Engel & Volkers Vancouver Island NorthMLS® 1051502
70
$1,050,000
$378/sqft
4 bd · 3 ba · 2,779 sqft
6044 Island Highway
Courtenay · Single Family
Listed by Royal LePage-Comox Valley (CV)MLS® 1051712
34
$1,279,000
$676/sqft
3 bd · 2 ba · 1,891 sqft
2859 ROYAL VISTA Way
Courtenay · Single Family
Listed by Royal LePage-Comox Valley (CV)MLS® 1051220
26
$639,000
$634/sqft
3 bd · 2 ba · 1,008 sqft
#303, 1280 Alpine Road
Courtenay · Single Family
Listed by REMAX Ocean Pacific (CX)MLS® 1051362
40
$825,000
$635/sqft
3 bd · 2 ba · 1,300 sqft
1285 Hurford Avenue
Courtenay · Single Family
Listed by REMAX Ocean Pacific (CX)MLS® 1051344
30
$569,000
$681/sqft
2 bd · 1 ba · 836 sqft
626 16th Street
Courtenay · Single Family
Listed by eXp Realty (NA)MLS® 1050723
34
$519,900
$578/sqft
2 bd · 2 ba · 900 sqft
#113, 1280 Alpine Road
Courtenay · Single Family
Listed by REMAX Ocean Pacific (CX)MLS® 1050677
96
$2,299,000
$605/sqft
3 bd · 5 ba · 3,798 sqft
3553 Winn Road
Courtenay · Single Family
Listed by REMAX Ocean Pacific (CX)MLS® 1050743
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 Courtenay
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
Pre-approval questions in Courtenay
At the $759,500 median, the minimum is $50,950 and twenty percent is $151,900. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $50,950 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.