64
$465,000
#413 – 930 Braidwood Road
Courtenay · Residential
3 bd
3 ba
1,383 sqft
$336/sqft
Built 2007
MLS® 1046329
REMAX Ocean Pacific (Crtny)
Pre-approval · Courtenay
What does a mortgage pre-approval in Courtenay actually ask for?
The median asking price in Courtenay is $748,900. At that price the minimum down payment is $49,890, 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
$748,900
Minimum down payment
$49,890
Qualifying payment
$4,678/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 Courtenay buyer
A $748,900 asking price puts the minimum down payment at $49,890 under the federal rules, and twenty percent at $149,780. Financing the remaining $699,010 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 $4,678 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $143,938. The census median household income in Courtenay is $72,000, which is about $71,938 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 $49,890 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 Courtenay home
| Median asking price | $748,900 |
| Minimum down payment | $49,890 |
| Twenty percent down | $149,780 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,678 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 Courtenay
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Courtenay
99
$875,000
2625 Urquhart Avenue
Courtenay · Residential
3 bd
1 ba
1,907 sqft
$459/sqft
Built 1941
MLS® 1047066
eXp Realty (CX)
31
$295,000
#222 – 1450 Tunner Drive
Courtenay · Residential
1 bd
1 ba
490 sqft
$602/sqft
Built 1994
MLS® 1044279
eXp Realty (CX)
83
$849,900
58 Mitchell Road
Courtenay · Residential
4 bd
3 ba
1,805 sqft
$471/sqft
Built 1976
MLS® 1043480
eXp Realty (CX)
28
$599,900
2496 Crystal Drive
Courtenay · Residential
4 bd
3 ba
2,369 sqft
$253/sqft
Built 1977
MLS® 1042667
Royal LePage-Comox Valley (CV)
40
$574,900
4616-B Northland Place
Courtenay · Residential
3 bd
2 ba
1,496 sqft
$384/sqft
Built 1994
MLS® 1041903
Royal LePage-Comox Valley (CV)
40
$434,900
#18 – 1180 Braidwood Road
Courtenay · Residential
3 bd
2 ba
1,370 sqft
$317/sqft
Built 1994
MLS® 1047623
eXp Realty (CX)
17
$899,000
649 5th Street
Courtenay · Residential
3 bd
3 ba
1,678 sqft
$536/sqft
Built 2024
MLS® 1024264
Royal LePage-Comox Valley (CV)
53
$1,395,000
3024 Barford Crescent
Courtenay · Residential
3 bd
3 ba
2,055 sqft
$679/sqft
Built 2017
MLS® 1046647
eXp Realty (CT)
12
$349,000
#18 – 1535 Dingwall Road
Courtenay · Residential
2 bd
1 ba
807 sqft
$432/sqft
Built 1993
MLS® 1046721
eXp Realty (CX)
39
$679,000
A – 1121 Monarch Drive
Courtenay · Residential
3 bd
2 ba
1,383 sqft
$491/sqft
Built 2004
MLS® 1047230
eXp Realty (CT)
20
$460,000
4649 McQuillan Road
Courtenay · Residential
3 bd
2 ba
1,020 sqft
$451/sqft
Built 1973
MLS® 1040857
Engel & Volkers Vancouver Island North
See all Courtenay listings (273 active listings)
Pre-approval in cities near Courtenay
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 Courtenay
What income does a lender test a median-priced Courtenay purchase against?
A $748,900 purchase with $49,890 down leaves $699,010 to finance. At the qualifying rate of 6.49% over 25 years the payment is $4,678 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $143,938. The census median household income in Courtenay is $72,000. 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 Courtenay?
At the $748,900 median asking price, the federal minimum is $49,890, and twenty percent is $149,780. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $49,890 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.
Courtenay homes for saleNarrow Courtenay homes by featureCourtenay market reportNew listings in CourtenayCourtenay price dropsHome affordability in BCMortgage stress test
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.