60
$314,900
1517 94 Avenue
Dawson Creek · Residential
3 bd
3 ba
2,100 sqft
$150/sqft
Built 1954
MLS® 10398512
RE/MAX Dawson Creek Realty
Pre-approval · Dawson Creek
What does a mortgage pre-approval in Dawson Creek actually ask for?
The median asking price in Dawson Creek is $350,000. At that price the minimum down payment is $17,500, 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
$350,000
Minimum down payment
$17,500
Qualifying payment
$2,225/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 Dawson Creek buyer
A $350,000 asking price puts the minimum down payment at $17,500 under the federal rules, and twenty percent at $70,000. Financing the remaining $332,500 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 $2,225 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $68,462. The census median household income in Dawson Creek is $81,000, which is about $12,538 above the figure the payment implies.
A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $17,500 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 Dawson Creek home
| Median asking price | $350,000 |
| Minimum down payment | $17,500 |
| Twenty percent down | $70,000 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $2,225 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 Dawson Creek
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Dawson Creek
62
$589,000
10717 Cottonwood Crescent
Dawson Creek · Residential
5 bd
4 ba
3,737 sqft
$158/sqft
Built 1993
MLS® 10398498
RE/MAX Dawson Creek Realty
22
$359,000
11324 13A Street
Dawson Creek · Residential
3 bd
2 ba
1,450 sqft
$248/sqft
Built 1959
MLS® 10398509
RE/MAX Dawson Creek Realty
26
$584,000
9000 Lyman Drive
Dawson Creek · Residential
4 bd
3 ba
4,475 sqft
$131/sqft
Built 1957
MLS® 10393060
Royal Lepage Aspire - DC
31
$398,000
1513 108 Avenue
Dawson Creek · Residential
5 bd
2 ba
2,269 sqft
$175/sqft
Built 1963
MLS® 10397066
RE/MAX Dawson Creek Realty
53
$699,000
8701 19A Street
Dawson Creek · Residential
5 bd
4 ba
3,573 sqft
$196/sqft
Built 2009
MLS® 10397348
RE/MAX Dawson Creek Realty
$67,000
#1 – 1201 118 Avenue
Dawson Creek · Residential
3 bd
1 ba
780 sqft
$86/sqft
Built 1976
MLS® 10398250
Royal Lepage Aspire - DC
38
$319,000
9017 17 Street
Dawson Creek · Residential
4 bd
2 ba
1,944 sqft
$164/sqft
Built 1960
MLS® 10398357
RE/MAX Dawson Creek Realty
$400,000
8105 18 Street
Dawson Creek · Residential
5 bd
4 ba
2,500 sqft
$160/sqft
Built 2013
MLS® 10398340
RE/MAX Dawson Creek Realty
19
$217,000
904 Cornwall Crescent
Dawson Creek · Residential
2 bd
1 ba
1,037 sqft
$209/sqft
Built 1954
MLS® 10398290
RE/MAX Dawson Creek Realty
7
$429,900
1721 109th Avenue
Dawson Creek · Residential
3 bd
1 ba
1,600 sqft
$269/sqft
Built 1955
MLS® 10398278
eXp Realty
7
$429,900
1710 110th Avenue
Dawson Creek · Residential
3 bd
1 ba
1,600 sqft
$269/sqft
Built 1955
MLS® 10398173
eXp Realty
See all Dawson Creek listings (191 active listings)
Pre-approval in cities near Dawson Creek
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 Dawson Creek
What income does a lender test a median-priced Dawson Creek purchase against?
A $350,000 purchase with $17,500 down leaves $332,500 to finance. At the qualifying rate of 6.49% over 25 years the payment is $2,225 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $68,462. The census median household income in Dawson Creek is $81,000. 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 Dawson Creek?
At the $350,000 median asking price, the federal minimum is $17,500, and twenty percent is $70,000. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $17,500 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.